Daniela Cavallo, chairwoman of the General and Group Works Council of the Volkswagen Group, arrives at the Schloss Herrenhausen Palace in Hanover, northern Germany on September 25, 2024 where talks between unions and the Volkswagen management are taking place following an announcement of German carmaker Volkswagen (VW) that drastic cost-cutting measures are needed to keep the carmaker competitive. After Volkswagen's bombshell announcement earlier in September 2024 that it could close factories in Germany for the first time, company management and unions will begin tense talks on a new pay deal. Volkswagen has repeatedly stressed that its costs are excessive and profit margins too low, particularly at its core VW brand. (Photo by RONNY HARTMANN / AFP) (Photo by RONNY HARTMANN/AFP via Getty Images)