Volkswagen will ramp up its turnaround programme, the head of the Volkswagen brand said on Monday, after the world’s second-largest carmaker flagged €10bn (about R186.60bn) in one-off costs, deepening a crisis that triggered the group’s biggest-ever restructuring.
“I had hoped that the measures agreed in 2024 would already be sufficient — unfortunately, that has not been the case,” Thomas Schaefer said at a staff meeting at Volkswagen’s headquarters in Wolfsburg, Lower Saxony, amid nationwide protests by German auto workers on Monday.
“We have absolutely no time to lose and will therefore significantly step up our performance programme once again,” he said, adding that the company will discuss how to proceed with employee representatives.
Reuters
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