Volkswagen weighs Germany plant closures to cut costs
Business Standard|September 03, 2024
Volkswagen (VW) is considering closing factories in Germany for the first time, in a move that shows the pressure Europe's top carmaker is facing from cheap Asian competition.
Volkswagen weighs Germany plant closures to cut costs

The move marks the first major clash between Chief Executive Oliver Blume, who analysts have described as more of a consensus builder compared to his more combative predecessor Herbert Diess, and unions that command substantial influence at VW.

VW considers one large vehicle plant and one component factory in Germany to be obsolete, its works council said as it vowed "fierce resistance" to the executive board's plans.

Analysts have in the past named VW sites in Osnabrueck, in Lower Saxony and Dresden, in Saxony, as potential targets for closure. The state of Lower Saxony is Volkswagen's second-largest shareholder and on Monday supported its review.

Diese Geschichte stammt aus der September 03, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der September 03, 2024-Ausgabe von Business Standard.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS BUSINESS STANDARDAlle anzeigen
Business Standard

Exim Bank shares input on potential tariff hit with Centre

The Export and Import Bank of India (Exim Bank) held discussions, and provided inputs to the government on the potential impact of the reciprocal tariffs being imposed by the US from April 2.

time-read
1 min  |
March 08, 2025
Full-scale launch of DakPay by mid-FY26
Business Standard

Full-scale launch of DakPay by mid-FY26

R VISWESVARAN, managing director and chief executive officer (MD & CEO) of India Post Payments Bank, says transition to small finance bank will help margins but operational cost for small ticket loans are very high. He spoke to Manojit Saha in an exclusive interview. Edited excerpts:

time-read
3 Minuten  |
March 08, 2025
THE BOOKKEEPER
Business Standard

THE BOOKKEEPER

An engineer with a business degree, Murray entered the publishing world when it was going through a digital shift. Today, he faces another tech-tonic moment, writes Veenu Sandhu

time-read
5 Minuten  |
March 08, 2025
Sebi board to reveal 'conflicts of interest' to public: Pandey
Business Standard

Sebi board to reveal 'conflicts of interest' to public: Pandey

The Securities and Exchange Board of India (Sebi) will soon make public disclosures on \"conflicts of interest\" of its board to ensure transparency and build trust in the market, Chairman Tuhin Kanta Pandey said on Friday.

time-read
2 Minuten  |
March 08, 2025
US pushes India for a macro trade deal, not tariff tinkering
Business Standard

US pushes India for a macro trade deal, not tariff tinkering

US commerce secy says agri can't be off the table for talks

time-read
2 Minuten  |
March 08, 2025
Business Standard

India concerned over release of 'violent extremists' in B'desh

India on Friday voiced concern over Bangladesh releasing certain \"violent extremists\" and underlined that it is the responsibility of the interim government in Dhaka to protect Hindus and other minorities as well as their religious institutions.

time-read
1 min  |
March 08, 2025
J&K Budget focuses on fiscal discipline, revenue boost
Business Standard

J&K Budget focuses on fiscal discipline, revenue boost

Jammu and Kashmir Chief Minister Omar Abdullah on Friday announced a series of economic and tax reforms aimed at boosting revenue, infrastructure development, and social security while ensuring fiscal prudence.

time-read
1 min  |
March 08, 2025
Ola Electric Stores See Raids, Seizures
Business Standard

Ola Electric Stores See Raids, Seizures

Ola Electric Mobility Ltd.'s rapid expansion into brick-and-mortar showrooms is running into regulatory trouble.

time-read
1 min  |
March 08, 2025
Trick or retreat
Business Standard

Trick or retreat

Itis fashionable to curse Rajiv for Bofors and more, but the truth is that1985-89 was the only period in our history when weapon acquisitions were proactive and futuristic

time-read
5 Minuten  |
March 08, 2025
CCI Proposes Curbs on Market Investments by Employees
Business Standard

CCI Proposes Curbs on Market Investments by Employees

The Competition Commission of India (CCI) on Friday released draft code rules that propose restrictions on investments by its employees and their dependent children in commodity derivatives, equity and equity-related instruments, and initial public offerings, among others.

time-read
1 min  |
March 08, 2025