Mexican Media Brands
VW Confirms Bonus Cutbacks for Top Managers
Volkswagen AG says its supervisory and management board has agreed to make “significant” but unspecified bonus cuts affecting Chairman Hans Dieter Poetsch and an unidentified group of executives.
#economics
Share
Volkswagen AG says its supervisory and management board has agreed to make “significant” but unspecified bonus cuts affecting Chairman Hans Dieter Poetsch and an unidentified group of executives.
The boards add that they are evaluating “different models which would constitute a reasonable and fair solution for all parties involved.”
The vaguely worded statement is intended to signal that senior management will participate in the company’s budget cuts as VW prepares for the financial impact of its diesel emission cheating scandal. The crisis began nearly seven months ago.
The boards say details about the bonus cut plan will be finalized on April 22 and included in the company’s 2015 annual report due on April 28. Media reports say the boards will reduce their own bonuses at least 30% and may agree to make personal investments in the company.
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
All About the 2018 Honda Accord
The common wisdom seems to be that midsize cars have pretty much had it in the U.S. new car market.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.