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Volkswagen calls for 10% pay cuts

By Reuters30 Oct 2024Reuters1 Mins read26

Stakeholders attend the second round of collective bargaining negotiations between Volkswagen and the IG Metall union including Arne Meiswinkel, board member for human resources of Volkswagen Passenger Cars, Daniela Cavallo, chairwoman of the general and group works council of Volkswagen AG and Thorsten Groeger, Lower Saxony district manager of IG Metall and negotiator, in Wolfsburg, Germany October 30, 2024. REUTERS/Axel Schmidt

Stakeholders attend the second round of collective bargaining negotiations between Volkswagen and the IG Metall union including Arne Meiswinkel, board member for human resources of Volkswagen Passenger Cars, Daniela Cavallo, chairwoman of the general and group works council of Volkswagen AG and Thorsten Groeger, Lower Saxony district manager of IG Metall and negotiator, in Wolfsburg, Germany October 30, 2024. — REUTERS/Axel Schmidt

Volkswagen wants its workforce to take pay cuts of 10 per cent 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.

(Reporting by Paolo Laudani, editing by Thomas Escritt)

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