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VW Opens Talks with Unions to Cut Costs, Not Jobs
Volkswagen AG has begun discussions with its unions about how to reduce costs and hike productivity without eliminating jobs in Germany.
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Volkswagen AG has begun discussions with its unions about how to reduce costs and hike productivity without eliminating jobs in Germany.
The company says it expects to complete the negotiations by autumn and incorporate an agreement into its strategic plans for 2017 and beyond. Citing the broad and rapid changes coming to the auto industry in the form of electrified powertrains, connectivity and self-driving technologies, VW brand leader Herbert Diess declares, “We can’t waste time.”
The cost-cutting goals aim to cure what VW group management concedes has become an inefficient and unwieldy company. VW also is bracing for at least €16.2 billion ($18.4 billion) in self-inflicted costs associated with its admission that it rigged 11 million diesel-powered vehicles to evade emission limits.
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