Labour attacks Siemens-Continental deal on VDO

Newswire

FRANKFURT, July 25 (Reuters) - German trade union IG Metall lashed out at Siemens and Continental AG on Wednesday for agreeing to an 11.4 billion euro ($15.7 billion) sale of Siemens VDO auto electronics unit without consenting to the job guarantees the union had wanted. "Neither Siemens nor Continental was prepared to give employees the concrete covenants in terms of jobs and plant sites (we) demanded for the period of five years," IG Metall deputy head Berthold Huber said in a statement. ...

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