Volkswagen's CEO was met by a litany of boos from workers when he said the company isn't "operating in a fantasy world" this week as the German automaker threatens to shutter plants and slash thousands of jobs as part of cost-cutting measures, according to a report.
Volkswagen Group CEO Oliver Blume was speaking to about 20,000 workers at the company's main plant in Wolfsburg, which employs about 60,000 workers, that was attended by German Labor Minister Hubertus Heil, Reuters reported.
The carmaker has been engaged in tense talks with the unions since it announced in September that it was considering taking drastic actions to reduce billions of dollars in costs because of competition from China.
About 100,000 union members began walkouts on Monday.
"As management we're not operating in a fantasy world. We are making decisions in a rapidly changing environment," Blume told the workers, who responded with choruses of boos.
The boos rained down again when he mentioned that Wolfsburg was close to his heart and that he had grown up nearby, the report said.
Volkswagen, like other European carmakers, has been buffeted by high manufacturing costs, sluggish electric vehicle sales and intense competition from China.
"The price pressure is immense," Blume said, referring to the company's need to ramp up sales in China, which used to be one of their biggest markets.
"We therefore urgently need to take measures to secure the future of Volkswagen. Our plans for this are on the table," he said.
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