Volkswagen Faces Union Demand for 7% Salary Increase
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Dow Jones
By David Sachs
A German union will ask Volkswagen for a 7% rise in employee wages during negotiations later this year.
Industrial union IG Metall said Friday that the wage hike would benefit about 120,000 employees, with negotiations for a new collective-bargaining agreement scheduled for October.
The move comes as Volkswagen is in the midst of cost-cutting program, aiming to shed 10 billion euros ($10.70 billion) in costs from its namesake brand.
The company didn't immediately respond to a request for comment.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
June 21, 2024 10:41 ET (14:41 GMT)
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