Finance
Rapprochement between Volkswagen and union in wage talks, sources say
Published by Global Banking & Finance Review®
Posted on December 20, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 20, 2024
1 min readLast updated: January 27, 2026
Volkswagen and IG Metall union are making progress in wage talks amid strikes and cost-cutting measures, impacting 100,000 workers.
(Reuters) - There has been rapprochement between Volkswagen and the IG Metall union during the longest-ever talks over pay and job security, sources close to the negotiations told Reuters on Friday, without providing further details.
The fifth round of negotiations has been under way since Monday.
Europe's biggest carmaker has been in high stakes talks with labour represenatives over cost-cutting measures that Volkswagen says are necessary to remain competitive against foreign competitors.
Around 100,000 workers have already staged two separate strikes in the past month, the largest in Volkswagen's history, protesting against management plans to cut wages, reduce capacity and potentially shut German plants for the first time.
The crisis has hit at a time of uncertainty and political upheaval in Europe's largest economy, as well as wider turmoil among the region's automakers.
(Reporting by Christina Amann, Writing by Matthias Williams, Editing by Friederike Heine)
The main topic is the wage and job security negotiations between Volkswagen and the IG Metall union.
Around 100,000 workers have staged strikes protesting against wage cuts and potential plant closures.
The talks are significant due to their impact on job security and competitiveness in the European auto industry.
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