this post was submitted on 02 Dec 2024
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Summary

Volkswagen workers across Germany began strikes in response to plans to close three factories, cut pensions, and implement €18 billion in budget reductions.

Led by the IG Metall union, the strikes, involving tens of thousands of employees, are part of what unions promise to be VW’s “toughest wage dispute ever.”

The cuts follow a 64% drop in VW’s Q3 profits, driven by declining industrial orders, shrinking Chinese market share, and EU-China tariff tensions.

Union leaders demand executive concessions, with next week’s talks expected to determine escalation or resolution.

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[–] [email protected] 2 points 3 weeks ago (1 children)

Is this good timing? At the height of profits is a great moment to start striking. During a recession they have less bargaining power.

[–] [email protected] 5 points 3 weeks ago (1 children)

I'd say they have more power, as the downside of leaving the strike unresolved is more impactful.

VW have less they can offer though.

[–] [email protected] 2 points 3 weeks ago

Exactly what my point was, yes.