"We must act quickly". Volkswagen's loss surprised analysts

Volkswagen reported an operational loss of €5.9 billion in Q3, exceeding analyst expectations. Revenue also fell by 6%, prompting calls for urgent business model changes. The company faces intense competition in China and high costs related to electric vehicle production. CEO Oliver Blume plans to cut 100,000 jobs and potentially close four factories in Germany, facing strong union opposition. Recent one-time costs of €10 billion and a lowered profit margin forecast add to the pressure for swift cost-cutting measures, despite potential employee protests.