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VW’s unions fully back management’s turnaround efforts: CEO

BERLIN (Reuters) – Volkswagen (VOWG_p.DE) brand’s management has the full backing of labor unions as it pushes ahead with the implementation of a multi-billion-euro turnaround plan, the carmaker’s chief executive said.

FILE PHOTO: Herbert Diess, chairman of the board of Volkswagen, presents the new Volkswagen Polo car during the World premiere of Volkswagen’s new Polo in Berlin, Germany June 16, 2017. REUTERS/Stefanie Loos/File Photo

VW’s mass-market brand has been undergoing heavy restructuring since it agreed with the works council on plans to cut 3.7 billion euros ($4.41 billion) of costs per year from 2020 and slash 23,000 jobs in Germany via natural attrition.

“I cannot complain about the cooperation with the works council,” VW brand chief executive Herbert Diess said at a news conference, citing “very constructive” dealings with the unions.

“We are making good progress,” the CEO said, adding that the works council stands behind the goals of the so-called “future pact” agreed a year ago.

Reporting by Andreas Cremer; Editing by Elaine Hardcastle

Our Standards:The Thomson Reuters Trust Principles.

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