FRANKFURT (Reuters) – Volkswagen has proposed to cut wages at its brand by 10% to tackle weak demand and high costs, the division’s personnel chief Arne Meiswinkel told journalists after the second round of talks with unions. Meiswinkel said negotiations would resume for a third round on Nov. 21. (Reporting by Christoph Steitz and Christina […]
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VW proposes 10% pay cut to tackle crisis
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FRANKFURT (Reuters) – Volkswagen has proposed to cut wages at its brand by 10% to tackle weak demand and high costs, the division’s personnel chief Arne Meiswinkel told journalists after the second round of talks with unions.
Meiswinkel said negotiations would resume for a third round on Nov. 21.
(Reporting by Christoph Steitz and Christina Amann, editing by Thomas Escritt)