VW managers to take combined 300 million euro pay cut: report

junge Welt

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Volkswagen managers are prepared to contribute 300 million to the VW “austerity program.”

Sueddeutsche Zeitung

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In order to stabilize Germany's largest car company, employees are saving billions of euros. Management is also making a contribution. There are no concrete details yet for the board of directors.

24ur.com

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Volkswagen's management will cut their salaries by a total of more than 300 million euros by 2030, Gunnar Kilian, the carmaker's board member in charge of human resources, told the Braunschweiger Zeitung, according to Reuters. The pay cuts are part of business restructuring measures at a troubled group.

Spiegel

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VW's management is to forego 300 million euros in salary over the next five years to support the restructuring of the car company. However, the board has not revealed how much of this will go to the top management.

n-tv.de

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A wage agreement has been reached at VW that leaves questions unanswered. One of them has now been clarified: management will also forego part of their salaries. Meanwhile, employees in Dresden are protesting and demanding that Wolfsburg consider keeping the plant open.

Talouselämä

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According to the company's calculations, the agreement signed between the parties in December will bring annual savings of 15 billion euros.