Volkswagen strikes a deal
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HANOVER, GERMANY -- Under pressure to cut costs and improve earnings, Volkswagen struck a far-reaching compromise with its workers Wednesday, winning a 28-month pay freeze and lower pay for new hires in return for a no-layoff guarantee until 2012.
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Volkswagen strikes a deal with unions to extend the working week at six German plants without any increase in pay.
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Volkswagenâs chairman, Ferdinand Piech, may join the board of the truck maker MAN, of which Volkswagen owns a 29.9 percent stake, MAN said. Mr. Piech, along with an executive with Volkswagenâs truck division, Stephan Schaller, will be among those directors whom shareholders will vote on during the May 10 annual meeting, MAN said. Mr. Piech, above, and Mr. Schaller would join Rupert Stadler, an executive with Volkswagenâs Audi subsidiary. Volkswagen has been pushing for an alliance formed of itself, MAN and Sania, another truck maker.
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Volkswagen has recruited Wolfgang Bernhard, who as DaimlerChrysler&#39;s former star manager built a reputation as an aggressive cost-cutter, to join its board.
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(InfoWorld) - Microsoft's in-car technologyÂ is getting a boost via a deal with a large supplier of automotive electronics. Germany's Siemens VDO AutomotiveÂ has agreed to collaborate with it on a next-generation communication and entertainment system. Siemens VDO and Microsoft said Friday they will work together to develop a new generation of on-board communication, navigation, and entertainment systems that use Microsoft Auto, a software system and hardware reference design. Siemens VDO counts Volkswagen, DaimlerChrysler, and Ford MotorÂ among its customers. Among the features planned by the two companies are in-vehicle video entertainment and Internet connectivity, according to Siemens VDO spokeswoman Eva Appold. Systems based on Microsoft Auto let drivers connect various portable devices, such as mobile phones, MP3 players, and video games, into their automotive system via a USB 2.0 (Universal Serial Bus) port, and interact with devices via voice technology. The new multimedia system planned by Siemens VDO, to be available in early 2009, will be based on hardware components and software developed by the German company, and include entertainment and communication components of Microsoft Auto, according to Appold. Siemens VDO, a subsidiary of German electronics and engineering company Siemens AG, plans to show a prototype multimedia system at the IAA (Internationale Automobil Ausstellung) international motor show in Frankfurt next week. "The multimedia platform will be very versatile, but it's up to our car manufacturing customers to decide which features they want to offer," Appold said. Appold was unable to provide pricing details, saying that final prices will be determined by the car makers. As part of the agreement with Microsoft, Siemens VDO will contribute to the further development of Microsoft Auto, the companies said. Microsoft already has agreements with Ford and Fiat to supply software for new in-vehicle communication and entertainment systems designed by the car makers. Â
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Volkswagen, Europe's largest carmaker, becomes the latest German firm to try and update controversial labour agreements.
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Volkswagen, the biggest European carmaker, sold a record 6.2 million vehicles last year owing to strong demand in eastern Europe, Brazil and China, VW said Monday.
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SAO PAULO, Brazil  - Workers at Volkswagen AG's   VOWG.DE biggest Brazilian plant ended a strike on Monday   after the German company agreed to reevaluate plans to cut   1,800 jobs, officials from the labor union at the factory and   the automaker told Reuters.
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BERLIN Volkswagen and Germany's biggest industrial union have resumed a new round of wage talks -- the fifth so far.
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Volkswagen AG, Europe&#39;s largest carmaker, wants German workers to agree to a two-year wage freeze to cut costs amid a stagnating market, dismissing a union demand for a 4 percent yearly raise.
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British and Chinese companies have signed key business agreements, including a multi-millon-dollar engine deal between Rolls-Royce and Air China, witnessed by Chinese Premier Wen Jiabao and Prime Minister Tony Blair.
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HANOVER - Management at Volkswagen and union leaders Wednesday agreed to a 28-month pay freeze as part of plans by the giant German-based carmaker to drastically cut costs.
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LONDON, November 2  - The German automotive giant, Volkswagen AG (VOW.ETR), continued its negotiations with the labour union today on its planned labour cost reductions.
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Unions at German carmaker Volkswagen agree to hold further talks over work contracts with management.
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Volkswagen (VW), Europe's biggest car maker, said it had sold a total 5.079 million cars worldwide last year, 1.3 percent more than in 2003.
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STUTTGART, Germany  - Volkswagen , Europe's biggest carmaker, has no interest in acquiring DaimlerChrysler's  loss-making U.S. arm Chrysler or expanding cooperation accords, a VW spokeswoman said on Friday.
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KUALA LUMPUR: Malaysia&#39;s national carmaker Proton is expected to sign a deal this week to assemble cars for Volkswagen AG in a tie-up that would boost the German giant&#39;s presence in Southeast Asia&#39;s fast-growing auto market, a report said.