Volkswagen Unions Threaten Strikes Amid Restructuring

Unions threaten strikes at Volkswagen if the automaker doesn't rule out plant closures in its restructuring. With job cuts and plant shutdowns looming, labor leaders oppose management's plan to close German plants due to high costs and reduced demand. The ongoing discussions have intensified tensions.

Unions have raised the possibility of strikes at Volkswagen unless the automaker decides against plant closures as part of its restructuring plan. This development marks the second major stand-off over pay and potential factory shutdowns.

Thorsten Groeger, chief negotiator for the IG Metall union, has emphasized the importance of securing the future of all German sites in the restructuring plan, warning that further escalation may be necessary if demands are not met.

The negotiations at Volkswagen's Wolfsburg headquarters coincide with reports of plummeting third-quarter profits, underscoring Europe's largest carmaker's challenges from low demand, high costs, and increased competition.

(With inputs from agencies.)