Volkswagen Faces Strike Over Labor Issues in German Plants [Yahoo! Finance]
Dorman Products, Inc. (DORM)
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Source: Yahoo! Finance
The strikes lasted several hours and followed weeks of stalled negotiations during which Volkswagen declined to rule out significant workforce reductions and potential plant closures in its home market. Per VWAGY, such measures are necessary to remain competitive in the face of challenges from Chinese automakers and a slowdown in European demand. A peace obligation that previously prevented industrial actions expired on Saturday, paving the way for strikes to begin on Sunday at nearly all of Volkswagen's German factories. Per Thorsten Groeger, IG Metall's chief negotiator, the length and intensity of the dispute will depend on Volkswagen's approach to negotiation. He accused the company of escalating tensions rather than resolving disputes. These walkouts mark Volkswagen's first large-scale strikes since 2018 when 50,000 employees halted production over pay disputes. While the current stoppages are limited to a few hours, there is a possibility that 24-hour strikes could follow. P
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DORM
Earnings
- 10/31/24 - Beat
DORM
Sec Filings
- 12/26/24 - Form 4
- 12/20/24 - Form 4
- 12/18/24 - Form 4
- DORM's page on the SEC website