Work Reform

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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.

Our Philosophies:

All workers must be paid a living wage for their labor.
Income inequality is the main cause of lower living standards.
Workers must join together and fight back for what is rightfully theirs.
We must not be divided and conquered. Workers gain the most when they focus on unifying issues.

Our Goals

Higher wages for underpaid workers.
Better worker representation, including but not limited to unions.
Better and fewer working hours.
Stimulating a massive wave of worker organizing in the United States and beyond.
Organizing and supporting political causes and campaigns that put workers first.

founded 1 year ago

MODERATORS

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Volkswagen to shut three factories, axe jobs and cut pay by 10%, says union (www.theguardian.com)

submitted 2 weeks ago by Twoafros@lemmy.world to c/workreform@lemmy.world

8 comments fedilink hide all child comments

cross-posted from: https://lemmy.world/post/21371247

German carmaker warns of stagnation in the European sector amid news of deeper-than-expected action

The German carmaker Volkswagen is planning to shut at least three factories in its home country, lay off thousands of workers and cut pay by 10%, according to the company’s union.

The deeper-than-expected cuts come as the company faces weak sales and slow expansion in the electric vehicle (EV) sector amid tough competition from Chinese manufacturers.

“The board wants to close at least three factories in Germany,” the works council chief, Daniela Cavallo, told employees at VW’s headquarters in Wolfsburg on Monday. Its remaining manufacturing sites will reduce capacity, she said, citing information provided by management.

As Europe’s top economy suffers a crisis in manufacturing and fears of mass unemployment, VW is aiming for a fundamental restructuring to cut costs. It had initially warned last month that it had the equivalent of two factories of extra capacity in Germany.

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[–] Mora@pawb.social 15 points 2 weeks ago (1 children)

For VW a lot of it is management failure. Instead of investing more into EVs and creating a car for the masses they held onto non-EVs mostly and then are surprised when cheaper vars (often from China) sell more.

Additionally VW had a dividend payout of 4,5 billion euro earlier this year (something that is not mandatory) ... and then noticed a couple of months later that they are missing 5 billion euro in their budget, leading to the news above.

[–] WhatAmLemmy@lemmy.world 6 points 2 weeks ago* (last edited 2 weeks ago)

If the controlling shareholders and board can approve spending money they don't have on a dividend, they should be held personally liable and fined for that 4.5 B.

We're taught that corporate criminals can act with impunity behind the liability shield of an LLC, but it is only this way because the rich write the laws, and the people just accept it.