Volkswagen, Unions Near Deal That Would Keep German Plants Open, Bloomberg Reports, Citing Sources

Dow Jones12-19

--Volkswagen and labor leaders are moving closer to a restructuring agreement that would avoid closing factories in Germany, Bloomberg reports, citing unnamed sources.

--Volkswagen management is willing to keep plants running and reinstate job security agreements until 2030 in return for workers foregoing bonus payments, according to Bloomberg.

--Other measures being discussed include moving production of the Golf hatchback to Mexico and ending production of VW-branded electric vehicles in Zwickau to trim capacity, Bloomberg reports.

--Spokespeople for Volkswagen and trade union IG Metall declined to comment, according to the report.

Full story: https://tinyurl.com/bdcz2pwt

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

December 19, 2024 02:32 ET (07:32 GMT)

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