CEO: Volkswagen "no longer competitive as the Volkswagen brand"

[OutdoorLover]

Well, Volkswagen is developing a plan to cut costs by $10 billion. CEO Thomas Schaefer observed that "With many of our pre-existing structures, processes and high costs, we are no longer competitive as the Volkswagen brand".

Apparently this will include staffing cuts, but it looks like they will try to get those done via e.g. early retirement incentives, not layoffs. HR head Gunnar Kilian added that "We need to finally be brave and honest enough to throw things overboard that are being duplicated within the company or are simply ballast we don't need for good results".

https://www.reuters.com/business/aut...el-2023-11-27/

[Malloric]

https://www.cnbc.com/2023/03/14/volk...hers-pace.html

$10 billion down, $190 billion left to fund.

[StealthRabbit]

As with almost every company... As long as you are true to your initial market, products, objectives.... you are most likely to succeed.

When you lose your focus, then your customers, then your expertise. You are destined to fail.

One only have to look at 100's of 'once-great' USA companies to see how that has worked out.

[City Guy997S]

Originally Posted by StealthRabbit

As with almost every company... As long as you are true to your initial market, products, objectives.... you are most likely to succeed.

When you lose your focus, then your customers, then your expertise. You are destined to fail.

One only have to look at 100's of 'once-great' USA companies to see how that has worked out.

General Motors is what VW is doing.........branching out too many directions!

[J Baustian]

Originally Posted by City Guy997S

General Motors is what VW is doing.........branching out too many directions!

I advised a friend of mine several years ago to avoid buying shares in any auto manufacturers, but in particular GM and VW. I still think they are the two big companies most likely to go bankrupt because of over-investment in electric vehicles. (There might be others.)