Page 7 - Thomas Schaefer News Today

Volkswagen’s international passenger car CEO Thomas Schaefer caused a stir at the weekend by saying South Africa must get its political and infrastructural act together or risk losing major foreign automotive investments.

Volkswagen is looking to restructure costs with possible layoffs at the Germany automaker along with measures to improve efficiency and productivity.

BERLIN: German car giant Volkswagen on Monday said that it was considering staff reductions, possibly in the form of early retirement, to help it meet vital cost-cutting targets imposed in its sputtering transition to electromobility.

Volkswagen Group—Europe's largest automotive group—comes across serious challenges as its main brand needs to cut costs on a massive scale.

Volkswagens 10 billion euro savings programme will include staff reductions, managers told staff on Monday as brand chief Thomas Schaefer warned that high costs and low productivity were making its...

Volkswagen must reduce staff headcount to get its costs under control and restore competitiveness, managers told staff representatives in a meeting at the carmakers Wolfsburg headquarters on Monday. ...

Transnet Port Terminals has doubled down on its decision to implement a new booking system at the Port of Port Elizabeth despite calls from organised business to suspend the system until the countrywide logistics crisis is resolved.

A senior Volkswagen executive involved in a global cost-cutting strategy said on Friday he was "very worried" about the future of the company's operations in South Africa, which is fighting persistent power cuts and logistics snarls.

"The situation is critical. Many markets are under pressure. Our orders, particularly for electric vehicles, have been lower than expected," Thomas Schaefer, head of the Volkswagen brand, told a staff meeting at the carmakers headquarters in Wolfsburg.

Automaker will cut headcount as part of plan to save almost $11 billion