Volkswagen workers' union threatens to shut down production plants in strike after talks collapse

euronews (in English)

Earlier this week, the workers announced that they were willing to accept pay reductions so that the company could continue to keep plants open and avoid mass layoffs.

Transcript

00:00A labor union at German carmaker Volkswagen has threatened to go on strike next month

00:06after negotiations with management over proposed drastic cost-cutting measures collapsed.

00:12The parties held their third round of talks on Thursday at the firm's headquarters in

00:16Wolfsburg.

00:18The union proposed creating a fund worth roughly 1.5 billion euros by declining part of wages

00:24for two years.

00:25That this will be in a scope that will make it very, very clear to the company that we

00:30as IG Metall and that the employees of Volkswagen mean it seriously.

00:35Around 7,000 workers demonstrated at the venue of the meeting to press their demands.

00:40The carmaker has been struggling financially amid a drop in demand in Europe and intensifying

00:47competition with Chinese electric vehicle makers.

00:51Many domestic closures will be the first in Volkswagen's 87-year history.

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