Market
When will Volkswagen implement pay raises for workers by 2030?
2
Resolution / Starting Odds
No pay raises • 25%
Pay raises in 1-2 years • 25%
Pay raises in 3-4 years • 25%
Pay raises in 5-6 years • 25%
Volkswagen official announcements and IG Metall union reports
Story
Volkswagen and IG Metall Union Reach Deal to Cut Over 35,000 Jobs by 2030, Avoid Factory Closures for Six Years at Five Sites
Dec 20, 2024, 06:06 PM
Volkswagen has reached a deal with the IG Metall union after extensive negotiations, avoiding mass layoffs and factory closures in Germany. The agreement, announced on December 20, 2024, allows Volkswagen to cut over 35,000 jobs by 2030 through voluntary measures such as early retirement and buyouts. In exchange, workers will forgo pay raises for the next six years, and the company will reduce production capacity at five sites by several hundred thousand units. The deal aims to provide job security and stability for employees, particularly as the company navigates challenges in the automotive market. Both parties expressed their commitment to finalizing the agreement by Christmas to ensure workers have certainty regarding their employment status.
View original story
Similar markets
Increased satisfaction • 25%
Other • 25%
Decreased satisfaction • 25%
No change in satisfaction • 25%
No change in EV production • 25%
Increase in EV production • 25%
Decrease in EV production • 25%
Other • 25%
Acquired by a non-Chinese automaker • 25%
Other outcome • 25%
Closed without sale • 25%
Acquired by a Chinese automaker • 25%
Conditions unchanged • 25%
Improved conditions confirmed • 25%
Workers repatriated • 25%
Other resolution • 25%
Stricter data privacy policies • 25%
Increased transparency in data handling • 25%
No significant changes • 25%
Improved data encryption standards • 25%
Combination of above • 25%
Public apology • 25%
Technical fixes • 25%
Compensation to affected users • 25%