Volkswagen AG"s labor leaders have proposed €1.5 billion in cost reductions as the company seeks to implement significant savings amid ongoing financial challenges.
The head of VW"s works council, Daniela Cavallo, suggested suspending portions of bonuses for workers, executives, and board members to contribute to the overall cost-cutting efforts.
Management aims to achieve approximately €17 billion in total savings, with labor costs representing a smaller portion of this initiative. The automaker"s current economic situation emphasizes the need for financial stability.