Volkswagen has announced an 11% wage hike for production workers at its Tennessee-based Chattanooga assembly plant. This move comes as part of a $10.9 billion savings program, which includes staff reductions, signaling the company's willingness to push for job cuts to reduce costs. Volkswagen's brand chief, Thomas Schaefer, warned that high costs and low productivity were making its cars uncompetitive, leading to the need for drastic measures to enhance competitiveness. The company's cost-cutting measures aim to address the challenges it faces in the automotive market, with a focus on regaining competitiveness against rivals like Tesla.
Volkswagen: Listen, we’re no longer competitive. And we need to cut $10 billion in costs. So some of you guys are getting fired. Employees: Seriously? Volkswagen: I think Tesla Berlin is hiring
Volkswagen is taking some drastic measures to make itself 'competitive' again https://t.co/YNmggzHWgu
Volkswagen's $10.9 billion savings program will include staff reductions, managers told staff as brand chief Thomas Schaefer warned that high costs and low productivity were making its cars uncompetitive https://t.co/1DqUeIKh3F
Volkswagen is 'no longer competitive,' job cuts intensify to keep up with Tesla https://t.co/7rhdaN1RV0 by @EVPeteJohnson
VOLKSWAGEN TO REDUCE HEADCOUNT AT 'NO LONGER COMPETITIVE' VW BRAND Volkswagen's $VWAGY $10.9 billion savings program will include staff reductions, managers told staff as its brand chief warned that high costs and low productivity were making its cars uncompetitive - Reuters
Volkswagen signals it’s willing to push for job cuts in a bid to reduce costs https://t.co/8bPgOx87gD
Volkswagen hikes wages 11% for U.S. factory workers $VWAGY
Volkswagen becomes the latest automaker to hike wages for U.S. factory workers https://t.co/bGO24uQlD8 https://t.co/JU4yK3quUR
⚠️ VOLKSWAGEN BECOMES THE LATEST AUTOMAKER TO HIKE WAGES FOR U.S. FACTORY WORKERS Full Story → https://t.co/xEIhUytxMY Volkswagen said on Wednesday that it would hike salaries for production workers at its Tennessee-based Chattanooga assembly plant by 11%, weeks after the… https://t.co/ZZpC2C5BYG
VW becomes latest non-union carmaker to raise US pay https://t.co/jWdNR4BM23