Volkswagen has canceled nearly all collective agreements, including the collective framework agreement, in response to rising cost pressure. IG Metall has already expressed criticism.
The VW supervisory board has approved a controversial cost-saving plan that is expected to lead to the loss of an additional 50,000 jobs and affect four German plants.
Volkswagen has appointed Marianne Heiß to the supervisory board. Immediately afterward, cost-cutting measures were unanimously approved, though details remain unclear.
Porsche SE recorded a billion-euro loss in the first half of the year due to write-downs on its stake in Volkswagen. The board emphasizes the need for immediate decisions.
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