German car giant Volkswagen on Monday said that it was considering staff reductions, possibly in the form of early retirement, to help it meet vital cost-cutting targets imposed in its sputtering transition to electromobility.
"The situation is critical. Many markets are under pressure. Our orders, particularly for electric vehicles, have been lower than expected," Thomas Schaefer, head of the Volkswagen brand, told a staff meeting at the carmaker's headquarters in Wolfsburg.
