Volkswagen to cut managers' bonuses amid diesel emissions scandal
Volkswagen says its managers' bonuses will be cut following the automaker's diesel emissions scandal.
Automaker has not revealed how much bosses will lose
Volkswagen says its managers' bonuses will be cut following the automaker's diesel emissions scandal.
- Volkswagen gets until April 21 for plan to fix polluting diesel engines
- Volkswagen sued for $4.8B by institutional investors
- Could Volkswagen scandal be diesel's death knell?
The automaker said in a statement Wednesday managers and directors agree that the company has to send a signal regarding the management board's pay in light of the current situation.
It says that various models are being discussed but the result would be a significant reduction in variable pay. It didn't give any precise figure.
The company says details will be released in its annual report being published on April 28.
The emissions-rigging scandal erupted in September.