Volkswagen CEO urges workers to intensify cost-saving amid restructuring

Volkswagen CEO Oliver Blume urged workers to intensify cost-saving efforts on Wednesday, warning that the automaker's labor and factory costs remain far above European competitors as it implements a sweeping restructuring plan that could eliminate tens of thousands of jobs. Speaking at the company's Emden plant, which faces an uncertain future beyond 2030, Blume told staff that the journey to restore competitiveness is not over. Blume's remarks at the electric vehicle plant in Lower Saxony came a day after he faced significant worker protest at Volkswagen's headquarters in Wolfsburg.