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1 week ago
Volkswagen will cut another 50,000 jobs and phase out production at four German plants as it struggles with ballooning labor costs, competition from China and U…
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The EU does not understand that China is eating its lunch.
Sad for the workers, but VW's problems are almost entirely self-inflicted.
VW need to realize that their problem isn't China, its Korea. KIA and Hyundai are replacing VW's position in the middle "good enough" segment. Either fight the Koreans or step down to the budget segment.
😢
no surprises... is one of the most hated car brands... no durability no credibility no responsibility
Honestly, this makes me sad. I've always been a fan of their cars. I hate to hear that so many will be losing their jobs. I recently purchased a 2020 Golf and I will be treasuring it as long as I can because I just don't like the direction car design is headed. Anyway, I hope those impacted by this decision will find new work soon. Sounds like management may have failed them badly here.
Volkswagen reported a 30% drop in after-tax earnings for the first half of the year as sales took a hit in China.
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