Volkswagen CEO Faces Backlash for 'Fantasy World' Comment
Volkswagen CEO Oliver Blume faced backlash from workers during a meeting at the company's Wolfsburg headquarters as he attempted to justify aggressive cost-cutting measures, including pay cuts and factory closures, to save €10 billion. The measures are part of Volkswagen's strategy to remain competitive amid rising production costs and declining sales, particularly in China. Despite the company's efforts, including offering early retirement packages, negotiations with the powerful works council continue, with unions pushing for a compromise before Christmas.
