Union says nearly 100,000 workers joined Volkswagen strikes across Germany

investing.com 03/12/2024 - 09:32 AM

Volkswagen Workers Protest

BERLIN (Reuters) – Almost 100,000 workers joined walkouts at Volkswagen's German plants on Monday in protest against management's plans to cut wages and potentially close sites at Europe's largest carmaker, according to the IG Metall union, which has threatened further industrial action.

With two-hour strikes during morning shifts and early exits during evening shifts, a total of 98,650 employees from nine plants across Germany participated in the industrial action, as stated by the union on Tuesday.

Volkswagen has hinted at closing plants in Germany for the first time in its 87-year history to cut costs and enhance profits. European car manufacturers are facing challenges from weak demand, high production costs, competition from Chinese rivals, and a slower-than-anticipated transition to electric vehicles.

"This was the first, powerful impact of a winter of protest. Volkswagen should reconsider its plans; otherwise, our colleagues will find the right response," said IG Metall's chief negotiator Thorsten Groeger.

Last week, the union proposed measures to save €1.5 billion ($1.58 billion), including foregoing bonuses for 2025 and 2026. Management has dismissed these proposals as unrealistic and delaying the inevitable.

> ($1 = 0.9502 euros)




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