Further negotiations are planned between Volkswagen and union leaders on Wednesday.
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00:00Many Volkswagen employees gathered in front of the company's headquarters in Wolfsburg,
00:05Germany, as they are not happy with recent decisions taken by the car manufacturer.
00:10According to the General Works Council, Volkswagen is planning to close at least three plants
00:15in the country and cut tens of thousands of jobs in the process.
00:19This is of course disturbing for many people, because it is elementary to question the future
00:26and how it will continue.
00:28Those that will keep their job might see cuts up to 18% in their salary.
00:32However, negotiations are continuing between the group and the IG Metal trade union.
00:43The management is demanding a permanent 10% reduction in monthly pay and two zero rounds
00:48in 2025 and 2026, meaning employees would not receive any raises or cost of living adjustments
00:55during those two years.
00:57Meanwhile, IG Metal is demanding a 7% wage increase for the employees.
01:02Volkswagen had already announced drastic costs and job cuts at the beginning of September,
01:07as the job security and the company wage agreements were terminated.
01:20Volkswagen is justifying the tightened austerity measures by stating that car sales in Europe
01:25had fallen significantly and the company is selling 2 million cars below the pre-corona level.
01:30The second round of negotiations will take place on Wednesday.