VW Major Shareholders Called to Repay Dividends Amid Crisis

Volkswagen's major shareholders, including the Porsche-Piëch clan, are being urged to repay 4.5 billion euros in dividends to prevent plant closures and layoffs. The Left party leader criticizes the situation, arguing that employees and taxpayers should not bear the brunt of mismanagement.

Volkswagen CEO, Oliver Blume, announced a cost-cutting program due to the difficult European car market and declining competitiveness. The crisis at Volkswagen, a vital company for Germany's economy, could have broader implications.

Factory closures and job cuts are being considered to save 10 billion euros, with workers protesting against the plans. The company's failure to adapt to electric vehicles and the economic downturn in the car market contribute to the crisis.

The government's green agenda has also impacted domestic car sales. Concerns over the lack of future security for new recruits and a sense of doom and uncertainty among workers have been reported.

The company's reputation suffered from the 'dieselgate' scandal and the loss of local business taxes. Volkswagen's inability to produce an affordable entry-level electric car in Germany further adds to the challenges it faces.