financetom
Business
financetom
/
Business
/
VW, unions resume last-ditch round of talks for the year on cost cuts
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
VW, unions resume last-ditch round of talks for the year on cost cuts
Dec 17, 2024 12:57 AM

BERLIN (Reuters) - Volkswagen management and labour representatives will resume high pressure talks on Tuesday morning over planned cost cuts to the carmaker's German sites after a 13-hour negotiation round on Monday failed to produce an agreement.

Unions said late on Monday night that it was still "far from clear" whether Tuesday's talks would bring the two sides closer to one another or reach a stalemate, with unions adamant that any solution must exclude plant closures and the carmaker insisting it cannot rule them out.

Both sides had expected the talks to last several days in a last-ditch attempt to reach an agreement before Christmas and avoid the conflict, which erupted the formerly peaceful relationship between works council chief Daniela Cavallo and Chief Executive Oliver Blume, from dragging into next year.

Unions have threatened unprecedented strike action in the new year if a deal is not reached this week.

"Workers don't want to go into Christmas in fear," works council chief Daniela Cavallo told union members outside the hotel before talks began early on Monday, the fifth round since early September.

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 >
South Africa's RCL Foods reports 38.8% rise in half-year earnings
South Africa's RCL Foods reports 38.8% rise in half-year earnings
Mar 2, 2025
JOHANNESBURG (Reuters) - South African food producer RCL Foods reported on Monday a 38.8% rise in half-year earnings, largely due to gains in its groceries and baking businesses. RCL Foods, whose brands include Selati sugar, Yum Yum peanut butter and Sunbake bread, said headline earnings per share from continuing operations rose to 109.4 South African cents in the six months...
Ex-Barclays CEO Staley appeals UK ban over Epstein statements
Ex-Barclays CEO Staley appeals UK ban over Epstein statements
Mar 2, 2025
LONDON, March 3 (Reuters) - Former Barclays boss Jes Staley will on Monday mount a high-profile appeal against his proposed ban from Britain's finance industry, which will once again highlight his relationship with disgraced financier Jeffrey Epstein. Staley - also a former executive at JPMorgan ( JPM ), where Epstein was once a major private banking client - has been...
Independent studios Neon, A24 dominate Academy Awards
Independent studios Neon, A24 dominate Academy Awards
Mar 2, 2025
LOS ANGELES, March 2 (Reuters) - The 97th Academy Awards marked a celebration of independent film, with Neon's Anora claiming five Oscars, including for best film, lead actress and director. Director Sean Baker's movie about an exotic dancer and sex worker who has the chance of a Cinderella story when she marries the son of a Russian oligarch, received broad...
China targets US agriculture over Trump tariff threat, Global Times says
China targets US agriculture over Trump tariff threat, Global Times says
Mar 2, 2025
* China preparing response to fresh US tariffs, Global Times * American agricultural exports likely to be hit * China remains biggest market for U.S. agricultural exports (Adds analyst comment in paragraphs 7-9) By Joe Cash, Mei Mei Chu and Xiuhao Chen BEIJING, March 3 (Reuters) - China has American agricultural exports in its cross hairs as it prepares countermeasures...
Copyright 2023-2026 - www.financetom.com All Rights Reserved