FRANKFURT (AP) -- Volkswagen AG says it has reached an agreement with industrial union IG Metall safeguarding 100,000 German jobs until the end of 2014.
VW said Tuesday that workers in production and at VW Financial Services Germany are covered in the deal that also introduces a performance-related pay scheme. The company and the union are also committing to jointly work on increasing productivity.
The agreement covers VW workers at locations including its Wolfsburg headquarters, Hanover and Salzgitter.
The company employed about 370,000 globally in the third quarter 2009.