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. There, more than 10,000 employees booed and held banners reading "Our jobs are not your balance sheet adjustments" as he presented the overhaul as the largest transformation in the company's history. The CEO is touring multiple German sites this week to build support for the plan, which has yet to be approved by the powerful supervisory board.

The restructuring proposal, detailed in recent weeks, includes the potential elimination of up to 100,000 jobs globally, with half of the cuts expected in Germany. Blume has characterized the 50,000 figure as a theoretical benchmark to align costs with rivals,...