The second round of salary negotiations for Volkswagen (VWAGY.US) will begin on October 30

The Zhitong Finance App learned that the second round of collective bargaining between Volkswagen (VWAGY.US) and Germany's largest trade union IG Metall will be held on October 30 local time in Wolfsburg, where Volkswagen's headquarters are located.

According to information, Europe's largest car manufacturer did not reach an agreement in the last round of salary negotiations, and the union threatened to go on strike starting in December. The company has hinted that it may close its factory in Germany.

IG Metall negotiator Thorsten Groeger said in a statement: “Since the first negotiations, the Management Committee has had enough time to prepare.” More than 3,000 workers are ready to act, he added.

The union wants Volkswagen to present a master plan for the next ten years to ensure employment and capacity utilization at the plant.

In the last round of negotiations, Volkswagen rejected IG Metall's request for a 7% increase in salary and payment of 170 euros in basic wages for apprentices and working students.

Volkswagen's chief negotiator Arne Meiswinkel said after the first round of negotiations: “Only by achieving sustainable cost savings can we invest in new technology and secure long-term employment.”