Volkswagen to cut managers' bonuses

Published 14.04.2016 21:26
Updated 14.04.2016 21:27

Volkswagen said Wednesday that its top managers' bonuses will be cut significantly, citing the need to send a "signal" on executives' pay following the automaker's diesel emissions scandal.

The company, which has yet to release 2015 earnings figures, said in a statement that "different models which would constitute a reasonable and fair solution for all parties involved" are being discussed. "

As a consequence, this would lead to a significant reduction of the variable remuneration," Volkswagen said. The cut to the 2015 bonuses would apply to the management board, a group of executives that helps run the company day to day and includes the CEO.

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