Intraday Nifty Future Tips, Volkswagen Labour Bosses Step Up Attack On Brand Chief

Volkswagen's labor leaders sent an open letter to staff accusing brand chief Herbert Diess of disregarding an agreed turnaround plan, just as the carmaker is seeking to raise its profitability through cost cuts. Instead of seeking cost-cutting solutions with the works council, VW's brand management aims to lower headcount in ways which violate consensus-based decision making, the letter said. "The brand chief executive is acting in a deeply antisocial manner, he constantly fails to keep his word when implementing the future pact and wipes jointly agreed on arrangements of the table," VW's labor leaders wrote in the letter seen by Reuters Thursday. "This approach poisons the Volkswagen DNA, it disregards co-determination," according to the letter. "Such an approach does not fit into our company."

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