Transportation
VW CEO Faces Worker Anger on Porsche-Backed Cost-Cut Plans
Oliver Blume’s success or failure will have repercussions for an entire industry in crisis.
The Volkswagen AG headquarters and auto plant in Wolfsburg, Germany in March.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
When Oliver Blume took charge of Volkswagen AG two years ago, the company veteran was seen as a peacemaker after the tumultuous tenure of his predecessor. Now, things have changed drastically.
The 56-year-old chief executive officer embarked on a confrontation course with Volkswagen’s powerful unions this week, a path that has toppled previous bosses of the German auto giant. On Wednesday, Blume got the first taste of the wrath triggered by a plan to potentially close factories in Germany and end job guarantees that date back to the 1990s.