Volkswagen Mexico Reaches Tentative Deal, Averting Strike

Volkswagen workers in Mexico’s Puebla plant reached a tentative 12-month labor agreement that averts a strike, but union members must still approve it in a vote. The deal provides a total 8.24% increase, including a 4.4% wage raise, a one-time payment and a savings-fund contribution, after workers rejected earlier offers. Separately, Volkswagen’s German unions have threatened strikes from January unless the company reverses its cancellation of wage agreements, amid plans for major job cuts and possible plant closures.