Volkswagen employees to ‘grill’ CEO after memo informing of 100,000 layoffs
Volkswagen employees are set to confront CEO Oliver Blume regarding reports of potential massive layoffs and the closure of four German manufacturing plants. The company is considering a significant restructuring plan to cut costs amid increasing competition from Chinese electric vehicle manufacturers.
Why it matters
The potential loss of up to 140,000 jobs represents a major industrial crisis for the German economy and highlights the challenges legacy automakers face in the EV transition.
German car maker Volkswagen is reportedly planning to cut 100,000 jobs and close four of its manufacturing plants in the country, per a CNBC report last month. Now, Reuters reports that Volkswagen employees will get the chance to directly question and “grill” CEO Oliver Blume. According to the news agency, Volkswagen's works council said it will hold extraordinary staff assemblies in August, where workers can ask Blume about the company's plans. Olver Blume will attend meetings with employees at the company's headquarters in Wolfsburg on August 25, followed by meetings at the Emden and Zwickau plants on August 26, the report stated.Volkswagen to hold staff meetings with CEO Oliver BlumeThe meetings come weeks after reports emerged that the German automaker was considering its biggest overhaul in nearly nine decades to cut costs and remain competitive.
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