Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Stock

VW managers to get 10% pay cut in plan to slash bonuses, German newspaper reports

admin by admin
December 22, 2024
in Stock
0
VW managers to get 10% pay cut in plan to slash bonuses, German newspaper reports
0
SHARES
13
VIEWS
Share on FacebookShare on Twitter

BERLIN (Reuters) – A reduction in managers’ bonuses at Volkswagen (ETR:VOWG_p) will lead to a 10% pay cut for the next two years, the Sueddeutsche Zeitung newspaper reported on Sunday, after the German carmaker struck a deal with unions to axe jobs and scale back production.

The reduction will apply to May bonus payments, leading to the 10% pay cut in 2025 and 2026 for 4,000 managers, the newspaper said. In the following three years, their pay will fall by 8%, 6% and 5%, it added.

A spokesperson for Volkswagen declined to comment on the report. Representatives of the IG Metall union and the company’s employee works council could not immediately be reached for comment.

Volkswagen, Europe’s top carmaker, announced sweeping changes on Friday to its German operations, including more than 35,000 future job cuts and sharp capacity reductions in the deal reached with unions after days of gruelling talks.

The agreement sought to avert mass strikes at the company, whose troubles have highlighted a broader slowdown in German industry.

This post appeared first on investing.com

Previous Post

Israel stocks higher at close of trade; TA 35 up 1.09%

Next Post

Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.36%

admin

admin

Next Post
Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.36%

Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.36%

Trending News

Boeing exploring asset sales to boost finances, WSJ reports

Boeing exploring asset sales to boost finances, WSJ reports

October 20, 2024
Citi raises 2025 oil price forecasts, citing heightened geopolitical risks

Citi raises 2025 oil price forecasts, citing heightened geopolitical risks

January 22, 2025
China central bank governor Pan meets BOE’s Bailey in Beijing

China central bank governor Pan meets BOE’s Bailey in Beijing

January 12, 2025
Subscribe to Insightful Word


    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025
    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    S&P 500 nears record high as Wall Street opens higher amid tech momentum

    June 26, 2025
    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    Galaxy Digital launches $175 million fund to back DeFi and stablecoin startups

    June 26, 2025

    Recent News

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    S&P 500 nears record high despite headwinds: key drivers behind the surprise rally

    June 26, 2025
    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high

    June 26, 2025

    Latest News

    • S&P 500 nears record high despite headwinds: key drivers behind the surprise rally
    • Top Nasdaq 100 Index stocks of 2025 as it breaks new all-time high
    • S&P 500 nears record high as Wall Street opens higher amid tech momentum

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.