financetom
Business
financetom
/
Business
/
VW workers step up strikes to fight German plant closures
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
VW workers step up strikes to fight German plant closures
Dec 5, 2024 10:06 AM

*

VW workers to strike on Monday over cost-cutting

*

Strikes will be twice as long as previous round

*

Coincide with new round of talks with management

*

Europe's car sector in turmoil

Dec 5 (Reuters) - Volkswagen workers will go

on extended strikes on Monday, stepping up a bitter dispute with

management over layoffs and what would be the first factory

closures on German soil for Europe's largest carmaker, a union

statement said on Thursday.

The IG Metall union said workers would down tools for four

hours at nine different sites in so-called "warning" strikes

across the country, twice as long as the first round of

industrial action at the start of December.

The walkouts are timed to coincide with the next round of

talks between Volkswagen and labour representatives over

cost-cutting measures that the company says are vital to stay

competitive against rising costs and foreign rivals.

The crisis at Europe's largest carmaker has hit Germany at a

time of economic uncertainty and domestic political upheaval, as

well as wider turmoil among the region's automakers.

Volkswagen Group CEO Oliver Blume on Wednesday had defended

his decisions as necessary in a rapidly changing environment,

saying management could not operate "in a fantasy world".

"It borders on mockery when Oliver Blume stands in front of

the workforce and wishes them a Merry Christmas, while at the

same time the VW board would prefer to put letters of

termination under the Christmas tree for the employees," IG

Metall negotiator Thorsten Groeger said on Thursday.

"We will now step up our efforts on December 9th and thus

increase the pressure on the company at the negotiating table,"

he said in a statement.

Europe's car sector is in turmoil, with thousands of jobs on

the line at automakers and their suppliers, all suffering from a

weakening market on the continent and a slower-than-expected

take-up of electric vehicles.

On Monday morning on Dec. 9, thousands of VW employees are

expected to attend a rally in Wolfsburg, where VW is

headquartered, shortly before the start of negotiations.

Workers could increase pressure if no agreement is struck

during next week's negotiations, union officials have signalled,

leading to longer and possibly even open-ended strikes.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved