Reported about 1 month ago
Volkswagen is contemplating significant cost-cutting measures, including a 10% wage cut and a two-year wage freeze, in an effort to save 4 billion euros amid financial pressures. Reports indicate that the automaker is also looking to cap bonuses for top employees and reduce anniversary payments while evaluating potential closures of some German production sites. Workers have expressed dissatisfaction over the lack of a clear strategic direction from management.
Source: YAHOO