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 ...
Premium Content (PAID Subscription Required)
"VW to cut executive and workers' bonuses - paper" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.