financetom
Business
financetom
/
Business
/
VW workers step up strikes to fight German plant closures
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
VW workers step up strikes to fight German plant closures
Dec 5, 2024 10:06 AM

*

VW workers to strike on Monday over cost-cutting

*

Strikes will be twice as long as previous round

*

Coincide with new round of talks with management

*

Europe's car sector in turmoil

Dec 5 (Reuters) - Volkswagen workers will go

on extended strikes on Monday, stepping up a bitter dispute with

management over layoffs and what would be the first factory

closures on German soil for Europe's largest carmaker, a union

statement said on Thursday.

The IG Metall union said workers would down tools for four

hours at nine different sites in so-called "warning" strikes

across the country, twice as long as the first round of

industrial action at the start of December.

The walkouts are timed to coincide with the next round of

talks between Volkswagen and labour representatives over

cost-cutting measures that the company says are vital to stay

competitive against rising costs and foreign rivals.

The crisis at Europe's largest carmaker has hit Germany at a

time of economic uncertainty and domestic political upheaval, as

well as wider turmoil among the region's automakers.

Volkswagen Group CEO Oliver Blume on Wednesday had defended

his decisions as necessary in a rapidly changing environment,

saying management could not operate "in a fantasy world".

"It borders on mockery when Oliver Blume stands in front of

the workforce and wishes them a Merry Christmas, while at the

same time the VW board would prefer to put letters of

termination under the Christmas tree for the employees," IG

Metall negotiator Thorsten Groeger said on Thursday.

"We will now step up our efforts on December 9th and thus

increase the pressure on the company at the negotiating table,"

he said in a statement.

Europe's car sector is in turmoil, with thousands of jobs on

the line at automakers and their suppliers, all suffering from a

weakening market on the continent and a slower-than-expected

take-up of electric vehicles.

On Monday morning on Dec. 9, thousands of VW employees are

expected to attend a rally in Wolfsburg, where VW is

headquartered, shortly before the start of negotiations.

Workers could increase pressure if no agreement is struck

during next week's negotiations, union officials have signalled,

leading to longer and possibly even open-ended strikes.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Aviva completes takeover of AIG's UK life insurance business
Aviva completes takeover of AIG's UK life insurance business
Apr 9, 2024
LONDON, April 9 (Reuters) - British insurer Aviva said on Tuesday it had completed the 453 million pound ($574 million) acquisition of AIG's UK life insurance business, sealing the largest takeover under CEO Amanda Blanc to date. Aviva announced the deal in September. The company is buying the unit - known as AIG Life UK - from Corebridge Financial Inc...
Goldman's China co-head Morse to retire, Bloomberg News reports
Goldman's China co-head Morse to retire, Bloomberg News reports
Apr 9, 2024
April 9 (Reuters) - Goldman Sachs Group's ( GS ) co-head of its China business E.G. Morse will retire after 16 years at the company, Bloomberg News said on Tuesday, citing an internal memo. ...
Former Tesla CEO says it is a 'shame' company is cancelling low-cost car plans
Former Tesla CEO says it is a 'shame' company is cancelling low-cost car plans
Apr 9, 2024
HONG KONG, April 9 (Reuters) - A Tesla founder and former chief executive said on Tuesday it was a shame to hear that the automaker was scrapping its low-cost car plans amid fierce competition in China. Martin Eberhard was speaking at the HSBC Global Investment Summit in Hong Kong. On Friday, Reuters reported that Tesla was cancelling its long-promised inexpensive...
BlackBerry Working With AMD to Create Robotics Platform
BlackBerry Working With AMD to Create Robotics Platform
Apr 9, 2024
03:37 AM EDT, 04/09/2024 (MT Newswires) -- BlackBerry (BB) on Tuesday unveiled a new precision robotics platform in collaboration with chipmaker AMD (AMD). The collaboration, called BlackBerry QNX, will provide a reasonably priced robotics platform with enhanced performance, reliability, and scalability for robotic applications in industry and medicine, according to the companies. The platform combines BlackBerry's real-time software tools with...
Copyright 2023-2025 - www.financetom.com All Rights Reserved