Volkswagen Supervisory Board Cuts It Own Bonuses To Help Slash Costs

Volkswagen plans to scrap bonus payments for members of its supervisory board, it said on Thursday, the latest sign of belt-tightening as the German carmaker grapples with the cost of sweeping emissions violations.

Supervisory board members have agreed to accept only fixed salaries in the future and scrap bonuses, a spokesman said, citing a proposal by the 20-strong board that has yet to be approved by the annual shareholders' meeting on May 10.

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TheSteve - 3/10/2017 1:23:10 PM

+4 Boost

How about slashing the multi-million dollar salaries of those in the Ivory Tower to... say, a punitive quarter million dollars a year? You know, as a sort of symbol of atonement for their utter disregard for law and public health? Nah! Millionaire don't vote to make millionaires less rich. They vote to make OTHERS less rich.

PUGPROUD - 3/11/2017 3:55:37 PM

0 Boost

If this were a Japanese company it wouldn't be the bonuses that got cut...if you get my gist!