Germany’s largest union threatens all options in Volkswagen crisis | Economy

Germany’s biggest union has vowed to consider all possible options, including moving to a four-day work week, after Volkswagen said it was considering closing factories in the country for the first time in its history and ending its decades-old job security programme.

Volkswagen, one of the world’s largest carmakers, said on Monday it was considering the unprecedented step of closing factories in Germany and ending its job security program at six of its plants in an effort to deepen a 10 billion euro ($11 billion) cost-cutting plan.

Asked if a four-day work week was among the alternatives the union was considering, Christiane Benner, president of the AJ Metall union, said: “It is possible.” “We will not leave any idea unexamined,” she added.

The auto giant faces challenges including slowing demand for cars, especially electric vehicles, growing competition from China and a complex governance structure that some investors and analysts say slows decision-making in times of crisis.

Negotiations are scheduled to begin in mid-to-late October, with strikes possible from late November.