Against the crisis
VW wants to cut managers’ salaries by 300 million euros
The Volkswagen Group is in crisis, tough savings have to be made, jobs are being cut, salaries reduced and bonuses slashed. The management has so far remained financially unscathed. But that is now set to change.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen According to a media report, Volkswagen's management wants to forgo salary payments of 300 million euros by 2030. In an interview with the "Braunschweiger Zeitung" newspaper, VW Board Member for Human Resources Gunnar Kilian said that the senior management wanted to contribute to the Group's cost-cutting measures.
The financial contribution of the Board of Management will be proportionally greater than that of the rest of the management and employees. He did not provide any further details. Kilian also left open how many managers would be affected by the measure.
At the end of December, after an unprecedented marathon of negotiations with employee representatives, the German car manufacturer reached a compromise in the wage dispute, which amounts to a far-reaching restructuring of the traditional company.
The plan includes the reduction of 35,000 jobs and a reduction in capacity by a quarter, but initially no plant closures. The agreement would save more than 15 billion euros per year in costs in the medium term, the company had stated. The reduction in labor costs alone would amount to 1.5 billion euros per year.
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