Volkswagen Labor Talks Continue After Late-Night Negotiations End Without Agreement

Dow Jones12-17

By Dominic Chopping

Volkswagen and labor leaders head into a second day of talks over cost cuts on Tuesday after negotiations that lasted late into Monday night ended without agreement.

The two sides are locked in protracted discussions over how to move ahead with deep cost-saving measures the German auto maker says are crucial to secure its future. Volkswagen has insisted on pay cuts and capacity reductions while worker representatives have ruled out any solution that includes factory closures, mass layoffs or lower pay.

Unions want a deal before Christmas and have threatened unprecedented strike action in the new year if no agreement can be found before then.

Around 100,000 workers in Germany have staged walk-outs on each of two days of strikes in recent weeks.

In a statement late Monday, the IG Metall metal-workers union said it remained to be seen whether a deal would be reached before Christmas or whether it would move ahead with a new wave of walk-outs in January.

"Late on Monday evening it was far from clear whether a rapprochement or a stalemate of the talks could be realistic on Tuesday," the union said.

Volkswagen didn't immediately reply to a request for comment.

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

(END) Dow Jones Newswires

December 17, 2024 05:05 ET (10:05 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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