Volkswagen Workers Threaten Unprecedented Strikes Over Wage Cuts

Volkswagen is facing significant labor unrest as workers threaten large-scale strikes over wage cuts and plant closures. Management is urged to negotiate amid competitive pressures and political uncertainty. With previous strikes already costly, the impasse jeopardizes VW's European operations.

Volkswagen workers have issued a stern ultimatum, demanding compromises from management to avoid unprecedented strikes over wage cuts and plant closures. This standoff began escalating on Monday as workers pressed the company for better terms.

The negotiations started in September, as Volkswagen aimed to cut costs in Germany to face competitive pricing from Asian manufacturers. Strikes are crippling VW's operations, with last week's walkouts at four factories costing the company nearly 40,000 euros per minute.

The situation exacerbates the ongoing turmoil in Europe's automotive industry. German Chancellor Olaf Scholz has warned against factory closures, and the IG Metall union is pushing for extended strikes, signaling increasing tensions within VW and the broader economic landscape.

(With inputs from agencies.)