VW boss defends redundancy plan
China DailyA person walks near a Volkswagen vehicle, ahead of a Volkswagen's works council regular meeting with workers in Wolfsburg, Germany on Sept 3. After seeing the value of VW's shares fall by around a third during the past five years, the 90-year-old automotive giant has said it needs to save 4 billion euros through compulsory job cuts. And Blume has said the economic situation the company is facing is now "so serious that we can't simply continue as we were", and that factory closures in Germany are also on the table. Janine Wissler, chairwoman of the Left Party, told the Rheinische Post newspaper: "It is incredibly sleazy that Volkswagen could pay out 4.5 billion euros and now claims that it can't raise 5 billion euros to prevent plant closures and job losses." BDI President Siegfried Russwurm told the Welt am Sonntag newspaper German companies are encountering difficulties because of soaring energy prices, high taxes, layers of bureaucracy, and "unreliable public infrastructure".
History of this topic
VW wage deal for 120,000 German workers avoids layoffs, plant closures
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VW workers walk off job in Germany
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VW boss defends redundancy plan
China Daily
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