Volkswagen workers strike at factories across Germany – DW – 12/02/2024
www.dw.com
The labor union has promised "the toughest wage dispute Volkswagen has ever seen." VW has planned to close three plants amidst plunging profits.

Summary

Volkswagen workers across Germany began strikes in response to plans to close three factories, cut pensions, and implement €18 billion in budget reductions.

Led by the IG Metall union, the strikes, involving tens of thousands of employees, are part of what unions promise to be VW’s “toughest wage dispute ever.”

The cuts follow a 64% drop in VW’s Q3 profits, driven by declining industrial orders, shrinking Chinese market share, and EU-China tariff tensions.

Union leaders demand executive concessions, with next week’s talks expected to determine escalation or resolution.

  • RubberDuck@lemmy.worldEnglish
    13·
    25 days ago

    And are still profitable… they just want more profit. So they reduce pension payments and wage growth and other employee benefits so they can pay enough dividends next year.