• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Nine Volkswagen plants to strike as labour battle escalates

by December 2, 2024
written by December 2, 2024

BERLIN (Reuters) – Workers at nine Volkswagen (ETR:VOWG_p) car and component plants across Germany will strike for several hours on Monday, IG Metall union said, bringing assembly lines to a halt as labour and management clash over the future of the carmaker’s German operations.

Thousands are expected to gather at the carmaker’s headquarters in Wolfsburg. Demonstrations are also expected at the Hanover plant, which employs around 14,000 people, and other component and auto plants including Emden, Salzgitter (ETR:SZGG), and Brunswick (NYSE:BC).

The strikes, which could escalate into 24-hour or unlimited strikes if a deal is not struck in the next round of wage negotiations, will put a dent in Volkswagen’s output at a time when the carmaker is already facing declining deliveries and plunging profit.

“How long and how intensive this confrontation needs to be is Volkswagen’s responsibility at the negotiating table,” Groeger said on Sunday.

A company spokesperson on Sunday said the carmaker respected workers’ right to strike had taken steps to ensure a basic level of supplies to customers and minimise the strike’s impact.

The union last week proposed measures it said would save 1.5 billion euros ($1.6 billion), including forgoing bonuses for 2025 and 2026, which Europe’s top carmaker dismissed.

Volkswagen has demanded a 10% wage cut, arguing it needs to slash costs and boost profit to defend market share.

The company is also threatening to close plants in Germany, a first in its 87-year history.

An agreement not to stage walkouts ended on Saturday, enabling workers to carry out strikes from Sunday across VW AG’s German plants.

The labour union called on employees of the plants housed under subsidiary Volkswagen Sachsen GmbH, which include VW’s EV-only plant Zwickau, to strike on both Monday and Tuesday.

Negotiations will continue on Dec. 9 over a new labour agreement, with unions vowing to resist any proposals that do not provide a long-term plan for every VW plant.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Exclusive-Kioxia sets IPO price range of 1,390-1,520 yen per share, sources say
next post
Exclusive-Latest US strike on China’s chips hits semiconductor toolmakers

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!








    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • China outlines more controls on exports of rare earths and technology

      October 10, 2025
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

      October 7, 2025
    • YouTube to pay $24 million to settle Trump lawsuit

      October 1, 2025
    • Charlie Javice sentenced to 7 years in prison for fraudulent $175M sale of aid startup

      October 1, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (651)
    • Stock (6,426)

    Latest News

    • China outlines more controls on exports of rare earths and technology
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

    Popular News

    • BoE delays Basel bank capital rules by one year
    • China, Trump talk up prospects for US-China collaboration

    About The Significant deals

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy