Reported about 23 hours ago
Volkswagen's management, including board members, will collectively reduce their salaries by over €300 million by 2030, as reported by human resources board member Gunnar Kilian. This decision is part of a broader cost-cutting agreement that includes cutting 35,000 jobs and decreasing production capacity at German plants, aiming to save €15 billion annually. Unions insisted on leadership pay cuts due to previous poor strategic decisions.
Source: YAHOO