One of the world’s largest automobile manufacturers Volkswagenintroduces austerity policy. The CEO is clear on this. warned.
CEO of Volkswagen Passenger Cars Thomas Schafer as part of an internal meeting told his managers that costs were too high and asked them to freeze spending with a focus on saving billions. According to Autocar, Schäfer, within the scope of the meeting attended by more than 2,000 managers, “We allow costs to rise dramatically in many areas” he said, and for the bad financial indicators “The roof is on fire” he used the phrase. In addition to this, Schäfer is looking forward to the company for the next period. “very difficult” He said he will pass. Coming to the manufacturer to save up to 10 billion euros in three years stating that they will create new programs aimed at Schäfer CFO of the brand, that is, the financial officer, who makes statements other than Patriarch Andreas Mayer whereas, “that things are not going well on the passenger car side” and stated that steps must be taken. As reported, the company, whose sales have slowed down considerably, especially in China, has to sell much more vehicles now, but now there are very big competitors in the automobile market, especially from China, of course, other well-known brands are not counted.
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