Volkswagen (VWAGY) workers will go on warning strikes on Monday at plants across Germany, labor union IG Metall said, marking the first large-scale walkouts at Volkswagen’s domestic operations since 2018, Reuters’ Maria Martinez reports. The start of the strikes represents a further escalation of a dispute between Europe’s top carmaker and its workers over mass layoffs, pay cuts and possible plant closures – drastic measures the company says it cannot rule out in the face of Chinese competition and cooling consumer demand.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on VWAGY:
- Volkswagen (VWAGY) May Face Big Disruptions as Union Talks Break Down
- VW dismisses union’s cost savings proposals, Reuters reports
- Volkswagen India allegedly evaded $1.4B in taxes in India, Reuters reports
- Tariffs could push auto prices out of U.S. consumers’ reach, says Morgan Stanley
- BYD (OTC:BYDDY) Braces for EV Price War with Supplier Price Cuts
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
