BERLIN (Reuters) – A discount in govt bonuses at Volkswagen (ETR) will result in a ten% pay reduce over the following two years, the Süddeutsche Zeitung newspaper reported on Sunday, after the German carmaker reached an settlement with the unions to place an finish to its actions. jobs and cut back 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 stated. 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 workers’ works council couldn’t instantly be reached for remark.
Volkswagen, Europe’s largest automaker, introduced sweeping adjustments 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.
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