BERLIN (Reuters) – Volkswagen (ETR:) is exploring a set of cost-cutting measures for its core mannequin, along with a ten% wage decrease and a two-year wage freeze, as a result of it seeks to keep away from losing 4 billion euros, Handelsblatt newspaper reported on Sunday, citing agency insiders.
The carmaker is beneath rising pressure to chop again payments amid a tough monetary native climate. Workers, within the meantime, have criticized administration for not presenting a clear future method, no matter ensures of a model new plan inside the works.
In response to Handelsblatt, Volkswagen’s administration has talked about numerous potential cost-saving strikes. These embody capping bonuses for top-tier staff, reducing further funds for employee anniversaries, and exploring potential closures of some German manufacturing web sites.
A Volkswagen spokesperson declined to comment to Handelsblatt on the persevering with negotiations with the company’s works council and IG Metall, Germany’s extremely efficient metalworkers’ union.
Since early October, Volkswagen’s administration has been meeting weekly with worker representatives from its German crops, analysing the place worth cuts can be made and which fashions shall be produced at each location.
Negotiations over wage will improve are handled individually, in response to a union spokesperson, with the next formal spherical set for Oct. 30.
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