WOLFSBURG (Thomson Financial) - Trade union IG Metall has threatened to launch massive protest actions against Porsche AG if the latter does not negotiate with Volkswagen AG workers regarding the latter's representation on a new Porsche holding supervisory board.
The VW works council has been critical of Porsche's decision to allow only three VW workers to sit on the supervisory board of the new Porsche Holding, even though VW has 324,000 workers.
Three Porsche workers also sit on the board. Porsche has 12,000 employees.
IG Metall officials at Wolfsburg -- where the VW headquarters is based -- said around 100 VW workers staged a protest action today in front of a hotel where Porsche CEO Wendelin Wiedeking had spent the night.
Porsche, whose stance on the matter was upheld by a German labour court last October, has refused to negotiate with the VW works council so far.
It has sent an open letter, published last Wednesday in many newspapers, in an attempt to allay what it called fears amongst VW workers that Porsche would break up Volkswagen. marilyn.gerlach@thomson.com dp/mog/rw COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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