VW proposes 10% pay cut to tackle crisis
Tweet
Share
E-mail
Employees walk on a day of an announcement of Volkswagen AG job cuts and closure of its few factories, at the company's headquarters in Wolfsburg, Germany, October 28, 2024. REUTERS/Axel Schmidt
FRANKFURT (Reuters) - Volkswagen has proposed to cut wages at its brand by 10% to tackle weak demand and high costs, the division's personnel chief Arne Meiswinkel told journalists after the second round of talks with unions.
Meiswinkel said negotiations would resume for a third round on Nov. 21.
(Reporting by Christoph Steitz and Christina Amann, editing by Thomas Escritt)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Hopes fade in Colombia as more bodies recovered days after powerful quake
- Between cartel threats and US airstrikes, Ecuador fishermen have nowhere to hide
- Democrats pick South Carolina as first 2028 primary state
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
