Volkswagen (VWAGY, Financial) is set to engage in the second round of collective bargaining talks with IG Metall, Germany's largest union, at its Wolfsburg headquarters. The first round failed to reach an agreement, prompting the union to threaten strikes starting in December. Volkswagen has indicated that it might consider shutting down its factories in Germany if negotiations stall further.
IG Metall's negotiator Thorsten Groeger stated that since the initial talks, Volkswagen's management has had ample time to prepare. Over 3,000 workers are ready to take action should negotiations not meet their demands. The union is pressing for a decade-long plan from Volkswagen to secure employment and optimize factory capacity utilization.
In the previous negotiation round, Volkswagen rejected IG Metall's demands for a 7% pay raise and a minimum payment of 170 euros for apprentices and working students. Volkswagen's chief negotiator Arne Meiswinkel emphasized that sustainable cost savings are essential for investing in new technologies and ensuring long-term job security.
