German automobile giant Volkswagen has announced that it will make restructurings in its economic policies by being among the companies affected by the current economic conditions. Explaining that they will tighten austerity in order to avoid the negative effects of market conditions, the CEO stated that the necessary instructions have been given regarding this issue. Here are the details
Volkswagen aims to avoid costs as much as possible!
The CEO of the German company, Thomas Schäfer, stated in the recent meetings that they are experiencing a tough period due to current conditions. “The roof is on fire!” Supporting this view with harsh rhetoric such as, the CEO stated that he gave instructions to the unit managers in order to save millions of euros. Stating that the advancing process will be extremely challenging for Volkswagen, Schäfer emphasized that the necessary measures should be taken quickly from now on.
The reason for these tensions in the world of economy is undoubtedly based on the cost increases encountered in raw materials and transportation process. Anticipating that these problems cannot be solved in the short term, the CEO stated that they started to take measures aiming at a savings value of ten million euros in a three-year period. In addition, Volkswagen, whose earnings are limited as rival companies increase their market share, will follow policies aimed at increasing sales, especially in countries where sales are declining, such as China.
So, what do you think about this situation that the German auto giant is facing? How do you think the austerity policies to be implemented will affect the company’s activities? Will the opponents be able to transfer their share of the cake back to their own safe? You can share your views with us in the comments section.
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