Volkswagen may oppose demands for 6 percent payment increase

Article by Christian A., on December 8, 2010

The German IG Metall labor union's demands for a 6 percent increase in pay for Volkswagen AG's workers in western Germany may be opposed by VW. The Wolfsburg, Germany-based company plans to add thousands of jobs in its home-market and abroad.

Personnel chief Horst Neumann told German newspaper Handelsblatt that the company may create 50,000 jobs globally by 2015, with about 10 percent of the positions in Germany, its second-biggest market after China.

He adds that new job openings in Germany require VW to be able to improve “its competitiveness as planned.” He says that wages may increase by more than 2.7 percent, reflecting a raise for engineering staff already agreed on last February plus performance-linked bonuses to be granted in May 2011.

VW's nine-month net income jumped fivefold to EUR3.78 billion ($5 billion) while global sales are set to exceed 2009's record of 6.29 million cars, vans and SUVs.

VW plans to invest EUR51.6 billion in the automotive business through 2015 to help its goal of surpassing Toyota Motor Corp. in sales and profit by 2018.

Hartmut Meine, the IG Metall's chief wage negotiator, says that VW “is speeding from record-to-record and is better positioned than competitors.” [via Bloomberg]

Topics: vw, germany

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