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

Volkswagen plant closures ‘not the right way’, Germany’s Scholz says

by December 7, 2024
written by December 7, 2024

FRANKFURT (Reuters) – Factory shutdowns would be a wrong move by Volkswagen (ETR:VOWG_p), German Chancellor Olaf Scholz said, adding that Europe’s largest carmaker had a responsibility to its employees.

Volkswagen is in a bitter dispute with staff over pay cuts and possible plant closures aimed at countering high costs in Germany and massively cheaper Asian rivals entering Europe.

Both sides go into a fourth round of negotiations on Monday.

“Specific decisions will be negotiated between the owners and labour representatives. My opinion is clear: closing locations would not be the right way to go,” Scholz told the Funke Media Group.

“It would not be right because poor management decisions have contributed to the difficult situation,” he added.

The state of Lower Saxony is Volkswagen’s second-largest shareholder, and its state premier, like Scholz, has urged the group to avoid site closures.

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

previous post
NYC mayor says suspect identified in UnitedHealth executive’s murder, NY Post reports
next post
UniCredit says ready to sit down with Credit Agricole over Banco BPM

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
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Markets react to Trump’s tariff promise
    • Police believe gunman who killed insurance CEO has left New York City

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

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