Volkswagen internal document (leaked, prepared with Boston Consulting Group) describes a severe crisis situation. Leadership uses sinking-ship language: "The Titanic has already hit the iceberg, water is flooding in." The company is not bankrupt yet but its old business model is completely broken. Margins have fallen to 2.8%, China profits collapsed, Chinese cars remove German ones from markets around the world and costs run 20% higher than competitors due to replacing cheap Russian pipe gas with a democratic one from USrael. The turnaround plan is severe: at least 100,000 job cuts overall up to 2030, four German plants (Emden, Zwickau, Hanover, Neckarsulm) set to lose vehicle production.
https://www.n-tv.de/wirtschaft/Weitere-rund-50-000-Jobs-sollen-bei-VW-wegfallen-id31267751.html
Volkswagens supervisory board just approved a major transformation plan that includes cutting around 50,000 more positions worldwide (on top of the...
https://boards.4chan.org/pol/thread/541961645
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