Struggling Volkswagen Plans Pay Freeze Through 2030 As Job Cuts Loom: Report

What happened: Süddeutsche Zeitung reports Volkswagen plans to freeze salaries through 2030 as part of a restructuring plan approved by the executive board, with all regions and plants expected to contribute. Key numbers: Pay freeze through the end of the decade; job-cut target doubled to 100,000 positions in September; Brussels agreed to cap Chinese hybrid imports at 350,000 vehicles a year, Why it matters: SZ describes the pay freeze as a further escalation in the conflict between management and employee representatives, following Volkswagen's lowered outlook and doubled job-cut target.

Süddeutsche Zeitung reports Volkswagen plans to freeze salaries through 2030 as part of a restructuring plan approved by the executive board, with all regions and plants expected to contribute.

SZ describes the pay freeze as a further escalation in the conflict between management and employee representatives, following Volkswagen's lowered outlook and doubled job-cut target.