The carmaker has been in heated discussions with unions after announcing this fall that it would have to take drastic measures to cut costs
Volkswagen: “We’re making €18 billion this year, so naturally, it’s time to slash jobs and squeeze the people actually keeping the company running.”
Meanwhile, the execs are over here stacking 15-25% raises every year like it’s Monopoly money. But sure, cutting worker salaries by 10% will totally boost morale. Nothing says “we value you” like a kick in the wallet.
Man, this is the same story every time. Companies rake in bigger profits, then lay off workers like they’re the problem.
People who gave them years of work get dumped into poverty or instability, and the execs act like it’s just business.
Meanwhile, you know they’re gonna be knocking on the government’s door for some bailout money. Absolute joke.
C-suite execs and board members should be required to work a couple weeks a year filing in for several of their lowest-paid workers. Maybe even staying with them so they see how their workers are forced to live.
Wait what I thought VAG was unprofitable and has been for a while?
Not unprofitable.
They just set impossible profit expectations and doing everything to reach them to keep shareholders happy.
So even if they are making record profits, they’re still not meeting the expectations they set. And that’s bad for investors.
I checked and they have over 200 billion in debt. The debt has been steadily growing since 2008 so no wonder someone wants see results. If they stop innovating and taking debt they most likely die so it’s not a good situation to be in.
What are you talking about? Over the last 10 years, there was only one year when they weren’t profitable (2015, 1.58 billion euros loss after they had to defer more then 16 billion euros because of their diesel shenanigans), every other year they were making billions. In fact, only in '16 and '20 were they “only” in the single digit billions, the remaining 7 years they made 10+ billions in profit, with the most recent year '23 being a record year in both, revenue (322 billion euros) and profit (16 billion euros).
Their debt is being paid and then some. This is not an issue.
I think it’s time the workers took “drastic measures” to cut costs and boot the CEOs
Sorry, the company doesn’t operate in a “fantasy world” your CEO paycheck is unsustainable for the company
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