VW to cut executive and workers' bonuses - paper

Newswire

FRANKFURT, March 27 (Reuters) - Europe's largest carmaker Volkswagen AG is lowering its management board's bonus payments by 30 percent, Chief Executive Bernd Pischetsrieder told German newspaper Welt am Sonntag. "If the company is earning less, then the management board must earn less too," the paper quoted Pischetsrieder as saying in a preview of an article to be published on Sunday. Workers' bonuses or profit sharing for 2003 will also be cut by about 25 percent to 1,150 euros ...

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