Source: International Business Times
Volkswagen CEO Oliver Blume has warned employees that the German automotive giant may need to eliminate roughly 50,000 additional jobs on top of previously announced workforce reductions. Jens Schlueter/AFP via Getty Images Volkswagen CEO Oliver Blume has warned employees that the German automotive giant may need to eliminate roughly 50,000 additional jobs on top of previously announced workforce reductions, underscoring the scale of the company's effort to restore profitability as it grapples with mounting costs, global competition and trade pressures. According to an internal memo seen by Reuters, Blume told staff that Volkswagen has identified a cost disadvantage of about 20% compared with rival automakers.
