The restructuring plan prepared by Volkswagen, Europe’s largest automobile manufacturer, in response to various challenges faced by VOWG_p.DE, was blocked by workers’ representatives, according to company sources.
While the company struggles with China’s increasing competitiveness, billions of dollars of additional costs caused by the US customs duty policy and increasing production costs in Germany, CEO Oliver Blume states that the company aims to increase its efficiency.
However, the presence of workers and representatives of the local government of Lower Sakyonya in the company’s auditing body makes it difficult for the company management to implement its decisions.
Two company sources reported that at the supervisory board meeting held yesterday, the restructuring plan presented by the company management was rejected by 7 votes against 12.
A spokesperson for the board of supervisors did not respond to questions about the outcome of the meeting.
