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flag Volkswagen managers agree to €300M pay cut by 2030 to cut costs and boost competitiveness.

flag Volkswagen managers will collectively take a pay cut totaling over €300 million by 2030, as part of a cost-cutting deal to save €15 billion annually. flag The agreement, reached in December under pressure from unions, also includes reducing staff by 35,000 and cutting plant capacity by 734,000 units in Germany. flag This move aims to address the company's financial struggles exacerbated by competition from cheaper Chinese models.

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