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Porsche Automobil Holding SE (PAH3.F)

Frankfurt - Frankfurt Delayed Price. Currency in EUR

39.53

-1.10

(-2.71%)

As of 09:58PM CET. Market open.

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Reuters
Porsche staff to join wave of strikes in key German industries
Porsche AG staff at the German carmaker's site in Stuttgart will join a wave of strikes in key German industries on Tuesday, said IG Metall union's local branch, as part of national action planned to push for higher pay. The strikes will begin from 2 am (0100 GMT) on Tuesday with the night shift at the Zuffenhausen plant, said the IG Metall Stuttgart branch in a statement, with a public rally planned to start 30 minutes later in front of the Porsche Museum.
Reuters
Explainer-Volkswagen Law: the unique structure behind the German carmaker's labour clash
Volkswagen's plans to close plants in Germany and dissolve long-standing labour agreements with unions have put the spotlight on its unique governance and ownership structure that have drawn criticism from investors for years. Like other German conglomerates, the 87-year-old automaker is the result of decades of expansion and strategy shifts, resulting in an empire that stretches from mass-market SEATs to luxury Lamborghinis, as well as stakes in sports car maker Porsche AG and trucks firm Traton. The strong influence of workers dates back to the early days of Volkswagen before World War Two, when the Nazis built Volkswagen's main factory in Wolfsburg with money that came in part from assets expropriated from trade unions.