Restructuring and Cost Reduction: Volkswagen Group Ushers in Historic Transformation

News on June 12, with the rise of the new energy wave, traditional car companies have been working hard to transform. However, the downturn in the industry has forced some car companies to make large-scale adjustments to ensure future development. According to the editor's understanding, Volkswagen Group, Europe's largest automaker, plans to carry out a significant restructuring.

According to recent reports from German media, Volkswagen Group CEO Oliver Blume is preparing to restructure the group, aiming to cut costs and reorganize the company's structure. One top executive said it would be the largest restructuring in decades. Although the Volkswagen Group is now a giant ship, it has frequently carried out drastic reforms in recent years, especially in terms of personnel. The previous month, Volkswagen Group announced that it would reorganize the top team of its software subsidiary CARIAD to address software development issues and appointed Peter Bosch, who previously ran Bentley's manufacturing operations, serves as CEO.

Looking back on the past, the Volkswagen Group made a major adjustment at the end of 2021. At that time, the group strengthened its management board team, restructured its management structure and optimized its functions to more effectively cope with the next stage of transformation. Herbert Diess succeeds Markus Duesmann becomes Chairman of the Management Board and assumes overall responsibility for the software division CARIAD, while remaining a member of the Management Board responsible for the Volume Brands Group business.

As early as September 2012, the Volkswagen Group completed the largest personnel adjustment in history, with a total of 31 top executives having their positions changed.

The Volkswagen Group’s restructuring plan is of great significance and will help address industry challenges and lay a solid foundation for future development. With the rapid development of new energy technologies and changes in market demand, the transformation of traditional car companies is imperative, and Volkswagen's restructuring measures will also provide important support for its sustainable development. We will continue to pay attention to the restructuring progress and future development trends of the Volkswagen Group.

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