James McHugh

And just, I mean, I suppose it's worth just pointing out that, I mean, it's more than a building, isn't it?

It's a vast tract of land.

Like much of the auto industry in Europe, I think it's pretty much a perfect storm.

A huge hit to profits for Volkswagen, down by about a half, and in fact the worst profit since the Dieselgate scandal over a decade ago, which many listeners will remember.

A big part of this is China.

So sales there are down, partly because of a cooling Chinese economy, but also the emergence of Chinese competition, which can make electric cars much cheaper than Western companies can.

So essentially they're eating Volkswagen's lunch.

Secondly, the transition to electric cars is costing Volkswagen and other firms a huge amount in terms of investment.

And at the same time, the take-up of electric cars is disappointing in Europe for those firms.

Trade barriers from the US has added to the pressure and hit their profits.

And on top of all of that, making cars in Germany is expensive because of high labour costs and high energy prices in the wake of the war in Ukraine and potentially what's going on right now in the Middle East.

Thank you.

It's really nice to be here.

I guess we saw an opportunity in 2010.

I was, like yourself, James, in recruitment.

We saw an opportunity.

I was based in the San Francisco office.

We couldn't keep up with demand for folk in the Salesforce space.

I'd ring the Europeans and say, hey, get on to our clients.

They're going to need Salesforce folk.