VW Says Unions Need To Decide Between 10% Pay Cuts Or Job Cuts

Volkswagen recently reported a dismal third quarter and now they’re looking at their workforce to help pick up the slack. This will likely go over like a lead balloon as they’re effectively telling the IG Metall union to get lost.

 

According to the automaker, the union wants a 7% pay increase as well as the reinstatement of recently terminated agreements without modification. Volkswagen said they can’t do this due to the “economic crisis in the automotive industry” and went a step further by asking for a 10% pay cut. The company said the move would give them the “means to make future investments” as well as safeguard jobs.