🇩🇪 VOLKSWAGEN TRIMS BONUSES, CUTS 35,000 JOBS IN GERMAN RESTRUCTURE

Volkswagen is taking drastic steps to cut costs, slashing managerial bonuses by 10% for the next two years, followed by gradual reductions of 8%, 6%, and 5%. 

This impacts 4,000 managers directly.

The automaker has also struck a deal with unions to cut over 35,000 jobs and scale back production, aiming to streamline operations while avoiding mass strikes. 

The restructuring underscores Volkswagen’s response to mounting challenges in Germany’s struggling industrial sector.

Source: Reuters