The hits at Volkswagen just keep on coming. Not new model launches that post big sales figures, but hits to employees and to the bottom line. After already making significant cuts, VW is reportedly about to make even more.

 

These could be the company's biggest cuts ever.

 

Group CEO Oliver Blume sent a memo to company employees. Reuters saw the memo and reports that Blume called VW's current situation "more than critical." He said that the company's 4% margins are "by no means sufficient to generate enough funds in the long term for new technologies, new products and our sites."