Volkswagen Group CEO Oliver Blume will meet employees on Tuesday at the
Wolfsburg main plant to present a capacity-cutting restructuring that could
eliminate up to 100,000 jobs. Blume and Volkswagen brand chief Thomas Schafer
aim to lift margins to 9% via significant cost reductions. Tensions with unions
have risen: Germany’s metalworkers’ union chair Christiane Benner called the 9%
target an "unrealistic fantasy," and local union officials warned on Monday they
would consider strikes if the plan is not withdrawn. Blume frames the overhaul
as the key test of his tenure to realign VW for electric vehicles, software and
intensified competition.
