Labour leaders force Volkswagen to ditch McKinsey, the consultants working on the carmaker's 5 bln euro cost-savings plan. It shows how hard VW's turnaround will be to execute, says Breakingviews.
▲ Hide Transcript
▶ View Transcript
And -- -- what is not panicking even have been false log into that well that's according to baking these. He just took its on a store and I think he's much for joining us. Still out on the story just just focused through it he knew why did both flown to pass -- restructuring process place now. If some I mean -- they have Groenenberg Kruger fonts over the last fall for a few years. And that -- called Grand -- sort of passion to our cost. They really have -- -- to produce your program at the moment margin for the operating margin dropped to two point 1% in the first half although the European car market is recovering. And they have problem for the bridges have grown far from -- to -- production costs -- And and -- he calls her first car or so they really truthful and. So obvious is not the first time thoughts on -- inning and sleet and can see. The back kick in the Bank of England at old son nick India's clout to help them restructure and modernize their their way of doing things. Why is it your plan Volkswagen's cultural content to store. Give the problem audit of the birds unions which have a very strong tradition are very strong position and books talking as -- and every German. Company they have finished the half of the few -- supervisory board. They are you scam that fit McCain's Vietnam where it look hope return to coaching perhaps -- and in the production. -- in Germany. And the union's right now are you trying to -- stronger in the very early stage of the cost cutting program. -- to make sure that one of the most aggressive. Cost controls on -- he could sufficiency program. Would this story be different it wouldn't cool hand holding consultant unions says that they were going to talk to. -- Well I think it bade good Felton Fisher thing of not having from time to -- union through beforehand. Give them the pretext to -- to really get worked up the baucus for the content more we we should have been informed. But I think it wouldn't have changed their position on not a wanting. Became. -- -- the earth the sufficiency program. How what is a successful. When people tell us about the -- German Economy. But I think dictates your turn off a bit -- or little market and bent over Chris -- relations. A student right Karzai and -- removed and more of trees treated treat. Market prone to free market forces are sort of pretend things and. My thing to remember to keep a close -- on this story on the store back then from breaking these. Not attend assessing financial inside what I US breaking the show every day. At Tulsa FC east and seventeen cents CBS T I'm nineteen long and this is what is.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code