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. The CEO, who foresees that these problems cannot be solved in the short term, ten million euro He stated that they started to take precautions by aiming at a savings value. In addition, Volkswagen, whose earnings are limited as rival companies increase their market shares, will follow policies aimed at increasing sales, especially in countries where sales are declining, such as China.
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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 the share they have taken from the cake back to their own coffers? You can share your views with us in the comments section.