CEO Blume Fails To Pass His Plan To Turn Around Ailing Volkswagen, Unions Get To Turn Off the Lights
4 Articles
4 Articles
CEO Blume Fails To Pass His Plan To Turn Around Ailing Volkswagen, Unions Get To Turn Off the Lights
Volkswagen is in turmoil, with sales crashing in China, leading to the biggest slump in four years. A plan to overhaul its operations, put forth by CEO Oliver Blume, was rejected after union representatives in the Supervisory Board voted against it. Oliver Blume is now left to deal with the fallout, while unions will likely be left to turn off the lights after Volkswagen runs into the ground. Three years after its "roof... (continue reading...)
VW’s Bold Overhaul Plan Crumbles Under Union Fire
Volkswagen Group stands at a crossroads. Profit margins have halved. Deliveries fell 8.6 percent in the second quarter. Competition from Chinese makers bites harder each month. Tariffs from the United States add billions in costs. And now the company’s ambitious restructuring proposal lies rejected. CEO Oliver Blume presented the plan to the supervisory board on Thursday. It called for production capacity to drop to 9 million vehicles a year fro…
The future package of Volkswagen CEO Oliver Blume has not received a majority on the Supervisory Board. At the same time an ultimatum of the works council expires. And: Here dividend hunters will find in the Dax.
Of course, after the VW Supervisory Board meeting, things aren't clear yet, and that makes for frustration.
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