Negotiations between Volkswagen AG's management and labor leaders have hit a snag, with no agreement in sight on proposed layoffs and factory closures. The union, IG Metall, threatens strikes if a deal isn't reached soon.
Volkswagen AG’s management and labor leaders remain far from a deal as the two sides hunkered down for a second day of negotiations over proposed layoffs and factory closures, people familiar with the matter said.
VW brand Chief Executive Officer Thomas Schäfer and human relations chief Gunnar Kilian, who took part in Monday’s talks in Hanover, are set to tell the group’s management board that the prospect of an imminent deal are dim, according to the people, who spoke on condition of anonymity because the discussions are private.If insufficient progress is made on a deal by early Wednesday, the board of union IG Metall is prepared to hold a vote at the end of the week to pave the way for 24-hour walkouts across VW factories in January. Already on two occasions this month, tens of thousands of VW workers temporarily abandoned their posts in protest of management’s proposed cuts. Both sides have aimed for a deal by Christmas. The complexity of the talks has made that timeline optimistic, according to the people. Plans to restructure the VW brand are converging with wage negotiations and Volkswagen group’s regular five-year planning round, which involves model-production assignments to the carmaker’s network of factories. VW, led by group CEO Oliver Blume, is seeking to fill a €4 billion ($4.2 billion) gap in their €17 billion savings program for the VW brand and related units. The carmaker is struggling with waning demand for electric vehicles in Europe and increasing competition in China from local manufacturers led by BYD Co
Volkswagen Layoffs Strikes Labor Negotiations Automotive Industry
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Volkswagen Labor Talks to Resume Amidst Cost-Cutting FearsHigh-stakes negotiations between Volkswagen management and labor unions will continue Tuesday to address planned cost cuts at German facilities. Despite efforts to reach a pre-Christmas agreement, the talks remain uncertain, with unions demanding no plant closures and Volkswagen unable to exclude that possibility.
Read more »
Israel, Hezbollah trade deadly blows despite ceasefire talks; Israeli strikes kill scores in GazaIsraeli military bombed at least five crowded homes in northern Gaza early on Thursday with many casualties buried beneath the rubble, Palestinian health officials say
Read more »
Volkswagen Workers Launch Warning Strikes Over Layoffs and Factory ClosuresIn response to a bitter dispute with management over layoffs and potential factory closures, workers at Volkswagen have launched a series of warning strikes. The strikes, which will last four hours at nine different sites across Germany, coincide with upcoming cost-cutting talks between the company and labor representatives.
Read more »
E-One Moli Energy's $1B B.C. battery plant expansion stalledThe new plant was projected to increase manufacturing capacity from 24 million cells to 130 million cells annually
Read more »
Cardano drops 17%: Here’s how reduced network usage stalled ADA’s rallyCardano (ADA) has dropped by 17% in seven days amid a decline in network usage. Whale holdings have also reduced in value which could precede selling.
Read more »
E-One Moli Energy's $1B B.C. battery plant expansion stalledThe new plant was projected to increase manufacturing capacity from 24 million cells to 130 million cells annually
Read more »