Stock Market News

Volkswagen calls for 10% pay cuts

4 weeks ago

Less than a minute

2024.10.30 13:46

(Reuters) – Volkswagen (ETR:) wants its workforce to take pay cuts of 10% in order to remain competitive and safeguard jobs, the company said in a statement on Thursday.

The announcement comes after a request from the IG Metall union to hike salaries by 7% and reinstate collective agreements. The company says it is unable to meet those demands.

4 weeks ago

Less than a minute

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