Strikes at Volkswagen plants could begin next week, union says

(Sharecast News) - Volkswagen workers in Germany could go on strike as early as next week, IG Metall has warned, after the third collective bargaining negotiations between the union and the carmaker failed to bring about a solution last week. According to a member handout seen by Reuters, IG Metall said walkouts were "possible and also necessary" from the beginning of December.

An agreement or so-called "peace obligation" to not stage strikes will end on 30 November, as the two sides battle over a proposed 10% wage reduction and cut to benefits amid a slowing electric-car market and tough competition from China.

The potential walkout would represent the first large-scale industrial action by Volkswagen employees in Germany since 2018.

The collective bargaining agreement covers around 120,000 of VW's 300,000 staff in Germany.

In a statement last week, IG Metall said: "The next collective bargaining is scheduled for December 9th. Until then, IG Metall wants to apply pressure with warning strikes from the beginning of December."