VW Faces Strike Threat Over Plant Closures

Volkswagen is facing potential strikes starting December 1, as the IG Metall union and company management have not reached an agreement over wages and factory closures. The union has proposed €1.5 billion in labor cost reductions, including pay cuts and flexibility in working hours, in exchange for job security and the continuation of all German plants. VW management is demanding more significant reductions and has not ruled out plant closures. The union, representing 120,000 employees, has staged protests with workers chanting slogans like 'Future instead of cutbacks'. If an agreement is not reached before the mandated labor peace expires at the end of November, widespread strikes could ensue. The situation is tense as VW management aims to address high labor costs amidst poor sales, particularly in electric vehicles, and competition from Chinese manufacturers.