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VW, unions resume last-ditch spherical of talks for the yr on value cuts By Reuters

by Index Investing News
December 17, 2024
in Stocks
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BERLIN (Reuters) – Volkswagen (ETR:) administration and labour representatives will resume excessive stress talks on Tuesday morning over deliberate value cuts to the carmaker’s German websites after a 13-hour negotiation spherical on Monday failed to supply an settlement.

Unions mentioned late on Monday night time that it was nonetheless “removed from clear” whether or not Tuesday’s talks would deliver the 2 sides nearer to 1 one other or attain a stalemate, with unions adamant that any answer should exclude plant closures and the carmaker insisting it can not rule them out.

Either side had anticipated the talks to final a number of days in a last-ditch try to succeed in an settlement earlier than Christmas and keep away from the battle, which erupted the previously peaceable relationship between works council chief Daniela Cavallo and Chief Government Oliver Blume, from dragging into subsequent yr.

Unions have threatened unprecedented strike motion within the new yr if a deal just isn’t reached this week.

“Employees do not need to go into Christmas in worry,” works council chief Daniela Cavallo advised union members exterior the resort earlier than talks started early on Monday, the fifth spherical since early September.





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