alex avoigt: Porsche & Piëch Families...
Porsche & Piëch Families push for Rapid, Decisive Restructuring of VW Group
Concerned about the future of its core investment, major VW shareholder Porsche SE is pressing for swift decisions to resolve the conflict between management, trade unions (IG Metall), and state stakeholders regarding job cuts and plant closures at Volkswagen.
"The Group is at a historic turning point," Hans Dieter Pötsch, head of the Porsche and Piëch families' holding company, stated on Friday.
He emphasized that everyone must act responsibly in the interest of the company and its competitiveness. "The longer decisions are delayed, the greater the problems become." Business and economic imperatives must take precedence; "everything else must take a back seat."
"It is imperative to reduce existing overcapacities, substantially cut back cost structures, and structurally improve the Group’s ability to make decisions and take action. Porsche SE, as the majority ordinary shareholder of Volkswagen AG, therefore supports the Group Board of Management and its proposals. The goal is competitiveness. There must be no taboos in this process; otherwise, Volkswagen risks falling permanently behind in international competition," adds Dr. Johannes Lattwein, Member of the Executive Board for Finance and IT.
In late June, VW CEO Oliver Blume’s strict cost-cutting plan had failed to gain approval from the VW supervisory board due to opposition from employee representatives and the state of Lower Saxony.
I can only agree with Putsch, there is no time to loose and delaying it makes it worse.
https://x.com/alex_avoigt/status/2085673639307866147
