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Job Cuts Loom as VW Chief Warns It Is 'No Longer Competitive'

Job Cuts Loom as VW Chief Warns It Is 'No Longer Competitive'

Published 2 years, 6 months ago
Description

Volkswagen, one of the longest standing automotive brands in the world, is facing a reckoning.

Reuters has reportedly accessed an internal post where the Germany-based company's leaders didn’t mince words about its prospects: they say VW brand chief Thomas Schaefer told staff the company’s high costs and low productivity have led to a point where it is “no longer competitive.”

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