Volkswagen and Unions Resume Cost-Cutting Talks

Volkswagen's management and labor representatives are engaged in high-pressure negotiations over cost cuts, as discussions resumed after a lengthy 13-hour session failed to yield an agreement. Unions, led by IG Metall, are adamant that any solution must exclude plant closures, while Volkswagen management has not ruled out such measures. The pressure is intensified by waning demand for electric vehicles and stiff competition from lower-cost Chinese manufacturers, leading to financial struggles for the automaker. If no deal is reached by Christmas, unions are prepared to initiate unprecedented strike actions in the new year. Volkswagen's share prices have dropped significantly amid these challenges, highlighting the stakes for both the company and its workers. The outcome of this stalemate remains uncertain as both sides have yet to reconcile their differences.