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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Volkswagen Supervisory Board Cuts It Own Bonuses To Help Slash Costs

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