2024-09-04 17:55:08
Automotive
Business

Job cuts in the automotive industry: New crisis at VW could also affect NRW partners

Volkswagen is facing a new crisis as the European automotive market struggles to recover from the impact of the COVID-19 pandemic. The company's austerity measures, including factory closures and the termination of job security guarantees, are causing significant unrest among the workforce.

Experts argue that these measures are necessary to prevent a full-blown crisis, but union leaders and employees are resisting them vehemently. The German government, including Chancellor Olaf Scholz, has been involved in discussions with VW management and union representatives, emphasizing the importance of the company and the need to protect jobs.

However, experts warn against state intervention, suggesting that the company must undergo comprehensive restructuring to improve its competitiveness. The situation at VW is also raising concerns about the state of the automotive industry in Germany as a whole, with fears of job losses and the loss of competitiveness.

Other automakers, such as Porsche and Mercedes-Benz, are also grappling with the effects of the crisis. The situation is particularly worrisome for suppliers in NRW, such as Thyssenkrupp, who are already burdened by high energy costs.

In order to overcome these challenges, the industry will need to focus on innovation and cost reductions while navigating the structural changes brought about by the shift towards electric mobility.

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3. September 2024 um 14:00

Job cuts in the automotive industry: New crisis at VW could also affect NRW partners

Economy
Finance
Technology
VW's austerity measures are burdening NRW suppliers; Thyssenkrupp and high energy costs are exacerbating the situation; Structural change requires innovations; Germany is losing competitiveness; Ingolstadt is running fairly well; 20% job losses are threatened; CDU leader Merz sees VW as a 'case for restructuring'; Economic expert Grimm warns against state rescue attempts; CAR director Dudenhöffer sees no alternative to cost reductions.
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Volkswagen is facing a crisis: The car market in Europe has not recovered since the Corona crisis, leading to overcapacity and high costs. VW has a market share of 25% in Europe, which corresponds to a loss of 500,000 vehicles, the capacity of two large factories. In addition, the investments in electromobility require enormous expenditures. The Group's management is therefore planning cost savings, including plant closures and the termination of the employment guarantee. This is meeting with..
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How will the austerity measures at VW affect Austria's automotive suppliers?

Economy
Finance
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Around 200,000 people work in the industry. 65 percent of the companies export to Germany. Now it will become "even more difficult", says an industry representative. Meanwhile, Chancellor Scholz is speaking up in Germany.
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