WOLFSBURG (dpa-AFX) - German auto major Volkswagen Group (VKW.L, VLKAF.PK, VOW.BE) announced Tuesday that it is continuing negotiations with German trade union IG Metall on the 2024 collective bargaining round.
The negotiating committees of Volkswagen and IG Metall Lower Saxony and Saxony-Anhalt continued talks on the company's in-house collective agreement, which is focused on an in-depth exchange of views on all aspects of the current collective bargaining process.
The demands and proposals of both the IG Metall and Volkswagen were discussed collaboratively, the company noted.
Regarding the fourth round of negotiations, Arne Meiswinkel, lead negotiator at Volkswagen, said, 'Today's discussions were constructive, but we remain significantly apart on a solution. We now need cost reductions that can be implemented in the short term and have a lasting effect. This is how we secure our future.'
Volkswagen's company collective agreement applies to around 120,000 employees at its various plants and units.
The next negotiation date has been set for December 16.
Meiswinkel added that further collaboration is needed to identify additional financial opportunities, and that the goal remains to find short-term and sustainable measures to reduce costs in order to secure the company's competitiveness in the long term.
At the same time, discussions are ongoing at the company level with the General Works Council mainly regarding overcapacity and factory costs in the German plants.
The development comes as workers are striking at nine of Volkswagen's plants across Germany, protesting proposed cuts at the carmaker.
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