Volkswagen calls for 10% pay cuts
Tweet
Share
E-mail
Stakeholders attend the second round of collective bargaining negotiations between Volkswagen and the IG Metall union including Arne Meiswinkel, board member for human resources of Volkswagen Passenger Cars, Daniela Cavallo, chairwoman of the general and
(Reuters) - Volkswagen wants its workforce to take pay cuts of 10% in order to remain competitive and safeguard jobs, the company said in a statement on Thursday.
The announcement comes after a request from the IG Metall union to hike salaries by 7% and reinstate collective agreements. The company says it is unable to meet those demands.
(Reporting by Paolo Laudani, editing by Thomas Escritt)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Russia says it struck vessels and military facilities supporting Ukraine in Odesa, Mykolaiv
- Thailand school shooting toll rises to nine after death of 12-year-old girl, police say
- Michigan salad warnings ease, but cyclospora keeps shoppers and grocers on edge
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!
