Union reaches agreement with Volkswagen to avoid plant closures

euronews (in English)

After days of negotiations which looked like they had reached a stalemate, German workers union IG Metall has reached a deal to avoid Volkswagen plant closures as well as redundancies and wage cuts.

Transcript

00:00After more than 70 hours of negotiations, German metal workers' union IG Metal has secured

00:07a wage agreement with Volkswagen, preventing plant closures and safeguarding jobs.

00:14As part of the deal, 35,000 jobs will be cut in Germany by the end of 2030, and the capacity

00:21of the group's German plants will be reduced by more than 700,000 vehicles.

00:27For remaining employees, there will be no cuts to monthly salaries nor compulsory redundancies

00:32until 2030, providing job security for thousands of workers and their families.

00:38The solution now looks like we have a solidarity with the overcapacities.

00:44So no deal where entire plants are taken from the grid, and what is once gone will never

00:51happen.

00:52Volkswagen has been in discussions with the union since September, after the company's

01:04threat of plant closures sparked mass worker strikes.

Category

Transcript

Be the first to comment

Recommended