German automotive giant Volkswagen on Tuesday said it was scrapping a slew of labor agreements.
"The company sees itself forced to do so because of the current economic challenges," Volkswagen said in a statement translated by CNBC.
Employees leave the Volkswagen plant in Zwickau after a works meeting. Europe's largest car manufacturer had announced that, in view of the worsening situation, it would once again tighten its austerity measures at the core VW brand.on Tuesday said it was scrapping six labor agreements as the company's standoff with unions and its works council intensified.
Volkswagen said it was ending its employment protection agreement, which has been in place for its German workforce since 1994 , as well as a wage agreement for employees with specialist or leadership positions.
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