Job Cuts and Strike Fears Spell More Pain in Europe’s Auto Sector
Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.
Volkswagen is inching closer to widespread walkouts as executives and unionists remain divided over how to carry out the German automaker’s massive restructuring, which has gained urgency in the face of slumping EV demand, high operational costs and fierce Chinese competition. A third round of negotiations between the two sides kicks off today, after labor leaders offered €1.5 billion in additional cost cuts. In another sign of the challenges facing Europe’s car industry, Ford announced it plans to cut 4,000 jobs in the region by the end of 2027, around 14% of its workforce. The reductions will primarily hit operations in Germany and the UK, pending consultations with unions and governments.
Related
/origin-imgresizer.eurosport.com/2024/12/22/image-284cc8ce-7ccf-402a-893c-d8c07ea741b7-85-2560-1440.jpeg "Southgate says he decided to leave England job before Euro 2024 final")
Southgate says he decided to leave England job before Euro…
Gareth Southgate has revealed that he made the decision to step down as England manager before the Euro 2024 final in July, in which England lost to Spain.He ch
Gareth Southgate knew he was leaving England job before end…
Gareth Southgate has revealed he decided to step down as England manager before the end of Euro 2024. Southgate said in the immediate aftermath of England’s 2
Europe’s start-up ecosystem is evolving, with big investment returns now…
The future of a competitive Europe depends on innovation. To keep pace with other regions in an increasingly unstable geopolitical world, the E
Factbox-European companies cut jobs as economy sputters By Reuters
(Reuters) -Difficult economic conditions and persistently weak demand for many products have forced companies across Europe to freeze hiring or cut jobs. Here
