FRANKFURT, Germany (AP) — Germany's Volkswagen says auto industry headwinds mean it can't rule out plant closings in its home country - and is dropping a...
FRANKFURT , Germany — Germany 's Volkswagen says auto industry headwinds mean it can't rule out plant closing s in its home country - and is dropping a longstanding job protection pledge in force since 1994 that would have barred layoffs through 2029.
Thomas Schaefer, the CEO of the Volkswagen Passenger Cars division, said efforts to reduce costs were “yielding results” but that the “headwinds have become significantly stronger.” The group also includes luxury makes Audi and Porsche, which have higher profit margins than the mass-market vehicles made by Volkswagen, as well as SEAT and Skoda.
Union officials and worker representatives attacked the idea of closings or layoffs. Management's approach is “not only shortsighted, but dangerous, as it risks destroying the heart of Volkswagen,” Thorsten Groeger, chief negotiator with VW for the IG Metall industrial union, said on the union's website.Top employee representative Daniela Cavallo said that “management has failed... The consequence is an attack on our employees, our locations and our labor agreements.
FRANKFURT Germany Volkswagen Plant Closing Plant Closings Layoffs Oliver Blume
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