German unions warn of massive opposition in turnaround dispute with Volkswagen
IG Metall warned of maximum resistance as Volkswagen weighs plant closures and up to 100,000 job cuts in a board vote.
- On Friday, Volkswagen's supervisory board will vote on three rival restructuring proposals, raising the risk of escalation and a potential extraordinary shareholder meeting.
- Chief Executive Oliver Blume described the automaker's situation as "more than critical," citing excess capacity costing around €1.5 billion annually and stiff competition from Chinese rivals.
- Under the tougher proposal, Volkswagen aims to cut 100,000 jobs and close four plants, prompting Germany's largest union, IG Metall, to warn of maximum resistance.
- Warning that factory floors will be up in arms, union representative Thorsten Groeger told workers at a Hanover plant, "We will oppose it with all our might."
- Amid a global automotive "mega crisis," sales have dropped 18% this year to around 13,900 vehicles, underscoring the urgency of what Blume calls "the biggest transformation plan in the history of the Volkswagen Group.
25 Articles
25 Articles
Volkswagen analyses the closure of several factories in Germany and the dismissal of 50,000 employees. Before a decisive vote for the company's future, the unions promise a hard resistance against the restructuring plan dictated by the management. Article Major crisis at Volkswagen. 50,000 redundancies are prepared, and the unions announce widespread protests appear first in Romania TV.
Volkswagen is facing increasing tensions between the company's management and the German unions before an important meeting of the Supervisory Board. On Friday, board members would analyze and vote on three restructuring scenarios, in a context where the group is looking for solutions to reduce costs and adapt production to new market conditions.
The conflict between the Volkswagen leadership and the German unions is intensifying before a decisive meeting of the Supervisory Council, which will vote on Friday on three rival restructuring plans. IG Metall warns that employees from all the plants will oppose any attempt to reopen the restructuring agreement agreed less than two years ago ...
At the end of the week, the Supervisory Board of the VW Group is to decide on the future of German locations. There could be a showdown between owner families and the state of Lower Saxony as well as IG Metall.
German unions warn of massive opposition in turnaround dispute with Volkswagen
Germany's largest union, IG Metall, on Monday warned of maximum resistance to any efforts by Volkswagen to unwind a previously agreed restructuring package, stopping short of threatening strikes ahead of a crucial board meeting at the end of the week.
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