The Left demands that Volkswagen’s supervisory board forgo its bonus payments. “The bonuses must be repaid and distributed as prizes to the workforce” said party chair Ines Schwerdtner in an interview with “Welt” (Wednesday issue). “It would signal appreciation for everyone who keeps the plants and offices running”.
Schwerdtner described it as “scandalous” that hardworking people must worry about their jobs and livelihoods while management fills its own pockets. She said the large payouts are possible because they were based on net cash flow, which rose after investment cuts. “Those who earn millions with such tricks do not deserve it” she added.
The responsibility for the economic slump, the left‑wing leader argues, lies with the company’s top hierarchy. “Volkswagen is deep in crisis, and the managers in the board rooms are at fault. For years fat dividends were paid while investment in research and development was neglected” she said. “Now profits are falling, and the bosses are imposing a brutal cost‑cutting regime”.
On Tuesday, Volkswagen announced sharp profit declines for the previous year. The company plans to cut costs by 2030 and reduce overall staff by 50,000 positions. According to “Handelsblatt”, it has paid its board approximately €13.6 million in annual bonuses.
