BERLIN (Reuters) – A discount in Volkswagen govt bonuses will result in a ten% pay lower over the following two years, the Süddeutsche Zeitung newspaper reported on Sunday, after the German carmaker reached a take care of unions to chop jobs and cut back its workforce. manufacturing.
The discount will apply to bonuses paid in Could, leading to a ten% wage discount in 2025 and 2026 for 4,000 managers, the newspaper mentioned. Over the following three years, their wage will lower by 8%, 6% and 5%, we add.
A Volkswagen spokesperson declined to touch upon this info. Representatives of the IG Metall union and the corporate’s staff’ works council couldn’t instantly be reached for remark.
Volkswagen, Europe’s largest automaker, introduced sweeping modifications to its operations in Germany on Friday, together with greater than 35,000 job cuts and steep capability reductions as a part of the deal reached with unions after days of negotiations backbreaking.
The deal was aimed toward avoiding mass strikes on the firm, whose issues have highlighted a broader slowdown in German trade.
(Reporting by Rachel Extra; enhancing by Helen Popper)
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