VW proposes 10% pay cut to tackle crisis | Reuters
VW proposes 10% pay cut to tackle crisis | Reuters
cross-posted from: https://lemm.ee/post/46215089
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The nerve of this company. They are making LESS PROFIT and asking the personell to take a pay cut. I hope the whole VW crew goes on strike till the management is replaced.
Despite not liking the requst for a pay cut, it seems clear that VW can't just sit and wait for the best. There are significant challenges coming ahead.
Their PROFIT dropped from 16 billion to 13 billion. They get to ask employees for a pay cut when they make a loss, maybe.
Now they are asking the employees to take less money for their labor (time) so VW can have enough profit to promise/give to the shareholders.
That something needs to happen is clear, but a pay cut is not one of them.
VW investors for years underinvested in the future of the company, refused to change course, and now they want employees to foot the bill? Fuck them.
Oh and in 2023, they INCREASED dividend payout to 28 percent. https://www.volkswagen-group.com/en/dividend-15991.
And in 2022 they paid out dividends TWICE: https://ycharts.com/companies/VWAGY/dividend
Keep in mind we are talking about the company that conspired with other companies and installed hard & software in their cars so they could keep wrecking the planet while keeping sales high by faking emission values. How many of their higher-ups are not in prison for crimes against humanity is a crime in itself. Winterkorn should be flogged publicly every day for this.
Sure. But that was clear to almost everyone in the industry for at least 5 years now.
Thanks, we’ve already read the press release