Volkswagen restructuring drive starts to sputter
Article Abstract:
Volkswagen AG of Germany is experiencing a shakeup in its upper management, just as it is in the middle of a restructuring. Executive Wolfgang Bernhard is about to leave the automobile giant, hard on the heels of the Chief Executive Officer Bernd Pischetsrider who departed last month. The executive is in a high state of friction backed by Ferdinand Piech, the company's largest investor.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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Top Volkswagen executive tries U.S.-style turnaround tactics; blunt-talking Mr. Bernhard rankles chairman, union; a debate on cost-cutting; 'Wild West' approach to labor
Article Abstract:
Wolfgang Bernard, new CEO of Volkswagen AG, is instituting American-style cost-cutting measures in order to reverse the company's profit decline of 60% since 2001 . Such measures include a proposal to lengthen the work week from 28 to 35 hours with no pay increase, which is very unpopular with the labor movement .
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2006
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VW seeks more work for less pay as jobs figure in German election
Article Abstract:
Volkswagen AG of Germany is planning to reduce wages and the Chief Executive Officer Bernd Pischtetsrieder says he cannot say there will be no layoffs. German corporations are taking the lead with restructuring measures, often involving job cuts, rather than relying on changes in employment law.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2005
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