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VW Nears Labor Deal That Would Keep German Car Plants Open
- Carmaker ready to make job guarantees in return for bonus cuts
- An agreement would prevent widespread walkouts at the VW brand
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Volkswagen AG and labor leaders are moving closer to an agreement to restructure the automaker’s namesake brand without shuttering factories in Germany, according to people familiar with the matter.
Management is willing to keep plants running and reinstate job security agreements until 2030 in return for workers foregoing bonus payments, said the people, who asked not to be named because the discussions are private.