Wolfsburg - New Volkswagen CE Matthias Mueller warned staff at a meeting on Tuesday that changes at the company would not be painless.
This is the first sign that jobs could be cut in response to a devastating diesel emissions scandal.
“Technical solutions to the problems are within view. However, the business and financial consequences are not yet clear,” Mueller said, according to a statement released by Volkswagen.
“Therefore we are putting all planned investments under review. What is not urgently needed will be scrapped or delayed,” Mueller added. “And therefore we will adjust our efficiency programme.
“I will be very open: this won't be painless.”
REUTERS