this post was submitted on 28 Nov 2023
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This is the best summary I could come up with:
The news organization saw a post on VW's intranet quoting CEO Thomas Schaffer, who blamed low productivity and high costs for the impending cuts.
"With many of our pre-existing structures, processes and high costs, we are no longer competitive as the Volkswagen brand," Schaffer said at a staff meeting.
EVs remain significantly more expensive than an equivalent car with a four-cylinder engine, an effect that's more pronounced in the market segments VW serves.
Lackluster products haven't helped—an ambitious plan by VW Group to master its software destiny has become a chaotic mess, delaying new vehicles in the process.
Feedback about the company's new capacitive multifunction steering wheel was so overwhelmingly negative that last year, Schaffer promised to ditch the design.
VW's board member in charge of human resources told staff that it will look at partial or early retirement agreements but that the majority of the $10.9 billion in cuts would come from savings other than job losses.
The original article contains 315 words, the summary contains 158 words. Saved 50%. I'm a bot and I'm open source!