Volkswagen (VWAGY) said it wants its workers to take 10% pay cuts in order for the car maker to continue to be competitive and protect employment, Reuters’ Paolo Laudani reports. The news comes after a request from the IG Metall union to increase pay by 7% and reinstate collective agreements, the author says, noting that VW has said it is not able to meet such demands.
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Read More on VWAGY:
- Volkswagen sees 2024 group revenue around EUR 320B vs. EUR 322.3B last year
- Volkswagen reports Q3 revenue EUR 78.5B vs. EUR 78.8B last year
- VW works council head says company to shutter three Germany plants, Reuters says
- Volkswagen weighs wage cuts, bonus reductions, Reuters reports
- EU new car registrations down 6.1% in September
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