3 sources·Business

Volkswagen Workers Stage Strikes Amid Pay Cuts and Plant Closures

Employees launch two-hour warning strikes at Volkswagen plants in Germany against proposed wage cuts and looming factory closures amid financial pressures.

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Updated: Dec 2nd, 2024, 10:17 AM ET

Summary

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Volkswagen employees are conducting two-hour strikes across nine German plants, protesting against a proposed 10% pay cut and potential factory closures. The strike is a response to the company’s efforts to reduce costs due to decreasing demand for vehicles in Europe, especially amid rising competition from Chinese automakers. Union leaders indicate potential for escalated actions depending on the outcome of ongoing negotiations scheduled for December 9. The labor actions reflect broader tensions in the automotive industry as companies navigate shifts towards electric vehicles and changing market conditions.

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