Volkswagen chief warns company's situation 'more than critical'
- Posted on August 23, 2026
- By Business News Today
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- 1 min read
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Volkswagen chief warns company's situation 'more than critical'
Volkswagen's CEO warns of a critical state and major upheaval in the auto industry. The company faces significant challenges from global headwinds and Chinese competition. Volkswagen is considering substantial job cuts and potential plant closures in the coming days. Discussions are ongoing regarding alternative industrial uses for affected factory sites. The union has criticized management's proposed savings plans and vowed to resist closures.
