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Market Chatter: Volkswagen Probing Dismissal of Employees by Lamp Supplier Xingyu

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Volkswagen is investigating the dismissal of 107 newly hired university graduates by auto lamp supplier Changzhou Xingyu Automotive Lighting Systems (SHA:601799), Reuters reported Tuesday, citing a statement.

Affected employees were asked to choose between resigning in exchange for compensation equivalent to half a month's pay or choosing reassignment to the assembly line at lower pay, according to the report.

Xingyu apologized to those affected in a letter and suspended its human resources chief, among other measures, Reuters said.

Volkswagen and Xingyu did not immediately respond to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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