VW workers to have veto power over Porsche’s decisions

Well it’s been a while since we’ve heard anything on ‘Porsche taking over Volkswagen’ news. When we last reported on the topic, Porsche was basically given the go-ahead with its takeover of Volkswagen. Well, workers at Volkswagen have been expressing fear that their say in the company’s direction will be drastically reduced and are speaking out.

Lower Saxony, which owns a portion of Volkswagen, has stepped up and expressed concern to protect the workers rights and to prevent Porsche from taking over V-dub altogether.

According to Bloomberg, recent developments say that the German government has proposed a new draft legislation that would give Lower Saxony and labor leaders veto power over major decisions made by Porsche.

“It is clear that this is a ploy to capture votes on a platform of. Look at us working hard to protect jobs and rights,” said Stephen Pope, chief global-market strategist at Cantor Fitzgerald in London. “This is a bad mistake by the government and has serious consequences for Porsche as they look to reform VW.”


Source: Bloomberg (via Automotive Blogs)

[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Automotive, Porsche, Volkswagen[/tags]