Volkswagen has informed workers it is ripping up a three-decade job security deal, setting up Europe’s largest carmaker for a historic and potentially costly fight with unions in Germany as it seeks to restore dwindling profits.
The Wolfsburg-based company on Tuesday notified its employee representatives and the IG Metall union that previous commitments providing job protections for all workers at its German plants would end by July next year. The deal previously ran until 2029.
The union responded by warning that the decision could cost the company close to a €1bn and threatened strike action.
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