VW's CFO told managers that its 'vehicle business is unwell' as its CEO asserted that costs are running too high car auto cars ⬇️
Volkswagen finds itself in a difficult position, the brand’s CEO divulged this week during a fiery internal meeting. Costs are getting too high, Thomas Schäfer told his managers, asking them to freeze spending as it looks for billions in savings.this week. The CEO laid out the difficult path that Europe’s largest automaker has ahead of it.
“The roof is on fire,” Schäfer said before telling the group that “we are letting the costs run too high in many areas,” perAudi CEO Ousted Reportedly After Falling Behind Rivals, Will Be Replaced By VW Group Exec He asked the managers to find “small wins” and said that VW will introduce new “performance programs” that aim to save the automaker as much as €10 billion over the next three years.
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