Volkswagen Cuts Executive Bonuses, Despite Record Profit Levels

Volkswagen Cuts Executive Bonuses, Despite Record Profit Levels

As a reaction to a recent public outcry in Germany regarding what the German people consider to be excessive and unjustifiable compensation for the nation's executive officers, VW cut the bonuses of its top paid employees. We know it's a reaction as such, because the company made a record breaking $28.5 Billion this year. Last year, the execs received $70 Million bonuses, and this year they will be cut down to $56 Million. It's still 28 times what the average American makes in a lifetime.

There's no word as to where the saved money will be applied.

Related: Fiat-Chrysler's CEO Doesn't Even Like to Say "Volkswagen"
Related: Volkswagen Lifts Veil Off 261 MPH Hybrid XL1

[via Left Lane News

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