VW to Cut Worker Bonuses as Profits Slip

Volkswagen AG says it will pay its workers in Germany bonuses of €6,200 each for their service in 2013, down from €7,200 in 2013 and €7,500 in 2012.

The company attributes the reduction to shrinking operating profits for the division, whose sales in Europe fell 4% last year. VW will report detailed financial results for its operating units next month.