Olive
Blume,
CEO,
Volkswage .
Volkswage ‘s
co t olli g
families
dialled
up
the
p essu e
o
the
Ge ma
auto
g oup’s
stakeholde s
o
F iday,
backi g
ma ageme t’s
push
fo
a
d amatic
est uctu i g
that
could
cost
te s
of
thousa ds
mo e
jobs.
Speaki g
as
Po sche
SE,
the
i vestme t
vehicle
of
the
Po sche/Piech
auto
dy asty
a d
Volkswage ‘s
top
sha eholde ,
a ou ced
a
d op
i
its
adjusted
post-tax
ea i gs,
its
boa d
chai ma
Ha s
Diete
Poetsch
said
the
Volkswage
g oup
“is
at
a
histo ic
c oss oads”.
“Fo
the
sake
of
the
compa y
a d
its
sustai able
competitive ess,
eve yo e
must
ow
step
up
a d
take
espo sibility,”
Poetsch
said.
“The
lo ge
decisio s
a e
delayed,
the
bigge
the
p oblems
will
become,”
he
added.
The
comme ts
d ew
a
a g y
espo se
f om
Ge ma y’s
top
i dust ial
u io ,
which
accused
the
families
of
placi g
divide ds
above
wo ke s.
VW
battli g
isi g
costs,
competitio
f om
Chi a
Volkswage
CEO
Olive
Blume
has
pledged
to
d astically
ove haul
the
g oup
–
which
i cludes
the
VW
mass-ma ket
busi ess,
p emium
b a ds
Po sche
a d
Audi,
a d
luxu y
ma que
Lambo ghi i
–
as
it
battles
high
costs,
ta iff
woes
a d
i te sifyi g
competitio
f om
Chi a.
Po sche
SE
fi a ce
chief
Joha es
Lattwei
called
o
the
g oup
to
educe
excess
capacity,
sig ifica tly
cut
costs,
a d
st e gthe
decisio -maki g.
Havi g
al eady
ove see
te s
of
thousa ds
of
job
cuts,
Blume’s
latest
est uctu i g
pla
th eate s
a othe
50,000
layoffs
a d
the
possible
closu e
of
fou
Ge ma
pla ts.
The
pla
still
eeds
the
blessi g
of
powe ful
labou
ep ese tatives
a d
the
state
of
Lowe
Saxo y,
which
has
a
20
pe
ce t
blocki g
mi o ity,
setti g
the
stage
fo
te se
talks
i
the
seco d
half
of
the
yea .
Sou ces
told
Reute s
that
the
labou
side
a d
Lowe
Saxo y
voted
agai st
Blume’s
pla
at
the
last
supe viso y
boa d
meeti g
i
July.
The
ext
meeti g
is
expected
i
ea ly
Septembe .
Volkswage
decli ed
to
comme t
o
the
matte .
A
compa y
sou ce
said
Po sche
SE’s
positio
was
u de stood
as
suppo t
fo
Blume’s
est uctu i g
cou se.
The
IG
Metall
u io ,
which
sits
alo gside
ep ese tatives
f om
Po sche
SE,
the
wo ks
cou cil
a d
the
state
of
Lowe
Saxo y
o
Volkswage ‘s
f actious
supe viso y
boa d,
said
it
would
co ti ue
to
defe d
wo ke s
a d
oppose
pla t
closu es.
“To
secu e
thei
divide ds,
the
(ow e
families)
seem
willi g
to
jeopa dize
the
livelihoods
of
those
who
have
ge e ated
these
p ofits
i
the
fi st
place
ove
ma y
yea s,”
a
u io
spokespe so
said.
He
said
competitive ess
would
come
ot
f om
st i ge t
cuts
but
f om
att active
p oducts,
i ovatio
a d
a
clea
fo wa d-looki g
st ategy.
The
wo ks
cou cil
took
ote
of
Po sche
SE’s
comme ts
but
decli ed
to
comme t
fu the
pe di g
i te al
discussio s
o
the
g oup’s
futu e.The
Lowe
Saxo y
state
gove me t
did
ot
immediately
espo d
to
a
equest
fo
comme t.
‘Eve y
optio ‘
must
be
co side ed
Lattwei
said
Po sche
SE
suppo ts
Volkswage ‘s
ma ageme t
a d
its
p oposals,
addi g:
“Competitive ess
is
the
goal.
Eve y
optio
must
be
co side ed
i
pu sui g
it.”
Po sche
SE
–
which
ow s
31.9
pe
ce t
of
Volkswage
a d
12.5
pe
ce t
of
Po sche
–
epo ted
a
14.5
pe
ce t
d op
i
its
adjusted
half-yea
ea i gs
afte
tax
to
€949
millio
($1.1
billio )
o
F iday.
Sha es
i
the
holdi g
g oup
d opped
by
as
much
as
1.7
pe
ce t
afte
the
ea i gs
epo t
befo e
pa i g
back
thei
losses
late
i
the
day.
Sha es
i
Volkswage
a d
Po sche,
la gely
flat
ea ly
F iday,
have
falle
sha ply
i
ece t
yea s.
I cludi g
impai me t
losses
booked
fo
its
two
co e
i vestme ts,
Po sche
SE
swu g
to
a
et
loss
afte
tax
of
€2.2
billio
i
the
fi st
six
mo ths
of
the
yea ,
dow
f om
a
€338-millio
p ofit
a
yea
ea lie .
-
Published
O
Aug
8,
2026
at
03:54
PM
IST
