Reported about 22 hours ago
Volkswagen executives will experience a 10% salary reduction over the next two years, according to the Sueddeutsche Zeitung, following a deal with unions to cut jobs and reduce production. This cut will affect 4,000 managers and is linked to a decrease in bonus payments starting in May. Subsequent years will see further pay reductions of 8%, 6%, and 5%. The company aims to mitigate mass strikes amid a broader slowdown in the German automobile industry.
Source: YAHOO