VW in the crisis: profits break - shock for thousands of employees!

VW in the crisis: profits break - shock for thousands of employees!

Wolfsburg, Deutschland - Volkswagen, the giant of the automotive industry, is in the crossfire of the crisis! In the third quarter, the company's profit crashed and fell by terrifying 64 percent to only 1.58 billion euros! This dramatic decline does not come unexpectedly because the industry is fighting with falling sales figures, and it also looks dark in the key market in China. While sales only slightly returned to 78.5 billion euros, the shocking profit warning is an alarm sign for the entire industry!

fail across the line

The forecast for the year was noticeably reduced in September, and CEO Oliver Blume pulled the ripcord. He rely on drastic measures and plans to save billions to save the dilapidated return of the main brand VW car. But the measures make you take notice: At least three German VW works are to be closed and the remaining reduced, which could lead to massive dismissals for tens of thousands of employees. The mood among the employees is tense and the IG Metall union has announced clear resistance!

The struggle for the future

The workforce is anything but pleased about the announced salary and demands more extensive solutions from the management. Negotiations with IG Metall are coming up next Wednesday, where the future of many employees is at stake. This hot debate will be crucial for the jobs and the direction in which Volkswagen wants to control.