Car crisis
Circles: VW austerity measures also apply to managers
After the collective bargaining agreement with IG Metall, the time for savings begins at VW. The car manufacturer wants to cut tens of thousands of jobs, build hundreds of thousands fewer cars – and save on its managers.
According to a media report, Volkswagen and the employee side have determined how much management should contribute to the savings plan. Accordingly, the May bonus should fall so much that the annual income of around 4,000 managers will fall by ten percent in 2025 and 2026, as the “Süddeutsche Zeitung” reported on Sunday. Corporate circles confirmed this to the German Press Agency.
In the following three years, managers’ annual income is expected to shrink by eight, six and five percent. It was said that the waiver would end in 2030, just like it did for employees. A corresponding agreement is already in its final stages, IG Metall said. Management and the board would have to be part of the solution.
“Our expectation is that the board’s waiver will once again stand out from that of the management,” the union said. According to the information, the board of directors can only declare its willingness; the implementation of reduced board remuneration is ultimately the responsibility of the supervisory board. VW boss Oliver Blume said on Friday that the board and management would participate “disproportionately” in the collective bargaining dispute.
dpa
Source: Stern
