Volkswagen is in its longest negotiations with labor unions over pay and jobs, aiming to secure a deal before Christmas and avert mass strikes. The carmaker seeks €4 billion in savings while workers oppose plant closures.
Volkswagen is nearing a deal with labor leaders in its longest negotiations over pay and jobs, sources told Reuters. The negotiations aim to address cost-cutting measures and avert mass strikes as Europe's largest carmaker faces challenges from cheaper Chinese competitors, weak European demand, and slower-than-expected electric vehicle adoption.
Around 100,000 workers have already participated in two strikes, the largest in Volkswagen's history, protesting against wage cuts, reduced capacity, and potential closures of German plants. The fifth round of negotiations continued late into the night this week, with both sides aiming for a deal by Christmas. While workers strongly oppose plant closures, Volkswagen maintains they may be necessary to achieve €4 billion in savings. The crisis at VW unfolds amidst political and economic uncertainty in Germany, with the issue of fixing the country's sluggish growth becoming a key campaign point ahead of a snap election in February
Volkswagen Labor Unions Strikes Cost-Cutting Plant Closures
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