One of Europe's most storied industrial institutions finds itself at a crossroads that few imagined possible a decade ago. Volkswagen CEO Oliver Blume has circulated an internal memo acknowledging that the automaker's margins, overhead burdens, and structural overcapacity have brought it to a moment of reckoning — one shaped by the rise of Chinese competitors, the erosion of its once-lucrative China business, and the weight of too many factories built for a world that no longer exists. The choices ahead, including the potential elimination of 50,000 jobs and the quiet fate of four German plant
VW CEO warns of 'critical' situation, signals deeper cuts ahead of restructuring talks
Volkswagen faces potential 50,000 additional job cuts on top of planned layoffs, affecting thousands of workers across German and global operations.