IG Metall Warns Volkswagen Over Restructuring Plans
German union IG Metall warned Volkswagen of fierce resistance if management attempts to unwind a restructuring package. The supervisory board is set to vote on rival proposals on Friday amid potential plant closures.
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Volkswagen AG faces fierce union pushback after management weighed plant closures and 50,000 layoffs in Germany. The automaker's overhaul comes less than two years after a previous restructuring deal was agreed. Investors must weigh potential labor strikes as the supervisory board prepares to vote on three rival restructuring proposals.
