Volkswagen AG said on Monday it will keep its factories in Brazil, South America’s top auto producer, shut through the end of the month, but that a decision has not been made on whether it will reopen them in May or later. The automaker has just reached a tentative deal with its unions that will keep workers net salaries intact, Volkswagen said. Gross salaries will be reduced but Brazil’s government will help make up the difference with subsidies.
Brasil Económico aims to promote responsible cross-border trade & investment by facilitating the transparent flow of information to and from Brazil.
