On the 23rd, Oliver Blume, CEO of Germany's Volkswagen Group, warned that the group's situation is 'precarious.' He plans to hold multiple rounds of talks with employees to garner support for the company's cost-saving plans. In an interview published on the company's intranet and relayed by AFP, Blume stated that Volkswagen and the entire German automotive industry are experiencing the 'most severe turmoil in history' due to the adverse global economic climate and competition from China.