https://www.reuters.com/business/autos-transportation/vw-managers-take-combined-300-mln-euro-pay-cut-reports-local-newspaper-2025-01-08/
VW managers to take combined 300-mln-euro pay cut, reports local newspaper
Volkswagen’s board would take a larger cut proportional to their salary than the rest of management or the workforce, Killian told the paper, declining to provide further details.
https://www.reuters.com/business/autos-transportation/vw-managers-get-10-pay-cut-plan-slash-bonuses-german-newspaper-reports-2024-12-22/
VW managers to get 10% pay cut in plan to slash bonuses, German newspaper reports
A reduction in managers’ bonuses at Volkswagen (VOWG_p.DE), opens new tab will lead to a 10% pay cut for the next two years, the Sueddeutsche Zeitung newspaper reported on Sunday, after the German carmaker struck a deal with unions to axe jobs and scale back production.
The reduction will apply to May bonus payments, leading to the 10% pay cut in 2025 and 2026 for 4,000 managers, the newspaper said. In the following three years, their pay will fall by 8%, 6% and 5%, it added.