Volkswagen is reportedly set to implement significant salary reductions for approximately 4,000 managers, with annual salaries decreasing by 10% over the next two years. This decision aligns with the company’s wider cost-cutting strategy, which includes eliminating over 35,000 jobs by 2030. The details of the cuts are expected to be formalized in a company agreement, while employees will also forego salary increases and bonuses. Additionally, Volkswagen plans to reduce technical capacity by 734,000 units in its German plants without closing any locations.