"Although there may also be positive effects in the short term, the measures will not lead to any sustainable financial relief for the company in the coming years," VW said in a statement, adding that it would remain in contact with labor representatives.
"Sustainable savings of 1.5 billion ($1.58 billion) cannot be ascertained even after intensive analysis," VW said of the proposal, questioning the potential savings touted by IG Metall and the staff council.
The unions had proposed that staff and management alike agree to a pay freeze and to foregoing bonuses in 2025 and 2026. In return it had called for guarantees on maintaining job numbers and not closing facilities.
Trade union negotiator Thorsten Groger said at a protest last week that 'if necessary,' workers would enter a labor dispute 'the likes of which Germany has not seen in decades.'
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