Volkswagen CEO Oliver Blume tells staff cost-cutting journey 'is not over'

Berlin: Volkswagen CEO ​Oliver Blume ​thanked staff for their ​efforts to cut costs at a workers' assembly in Emden on ‌Wednesday, ⁠one of ⁠five German plants threatened with ​closure, but said more needed to ​be done.

"This journey is not over. Because we ​not only ⁠measure ourselves against ‌our own past ​performance. ​We measure ourselves against ⁠the best locations in Europe," ​Blume told staff, according to ​excerpts of his speech shared by the company.

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"Labor costs today are more than double those ‌of comparable European locations. And when it comes ​to ​factory ⁠costs, other plants are still significantly cheaper. This is not a criticism - ​it is the reality against which we must measure ourselves," Blume said.

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