Scandal Like a Belt! Volkswagen Is in Crisis, Freezing Employees' Salaries: Management Is to Receive Hefty Bonuses for Now
4 Articles
4 Articles
Operating profit is non-existent, falling by 99 percent in nine months.
BRATISLAVA/BERLIN - The carmaker Volkswagen is struggling in a crisis like no other. Its profits have fallen to zero, margins are constantly falling and employees have to prepare for salary freezes. But it seems that not everyone will feel these bad times firsthand. Despite the dire situation, the management is set to receive hefty bonuses.
While BMW's profits are collapsing and Volkswagen, like Mercedes, is cutting sails, the " turbo bonuses" are making an over-Rhin card. An important financial incentive that actually hides untouchable collective agreements, very heavy wage costs and a cynical calculation to seduce markets.
Volkswagen is drowning in a crisis. Its profits have fallen to practically zero recently, margins are constantly falling, and a freeze on the salaries of most employees is also planned. Of the group, only Skoda is doing well, but the threat of a salary freeze also hangs over it. However, one part of the German group does not seem to be suffering from financial hardship. Managers have reportedly approved high bonuses despite the poor results.
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