Volkswagen freezes wages and cancels bonuses until 2030 for all 660,000 employees worldwide

German automotive giant Volkswagen has ordered a freeze on salaries and cancellation of bonuses until 2030 for all 660,000 employees worldwide, including those at Czech Škoda Auto. As a result of years without indexation, workers' purchasing power will drop by at least 10%.

⏺36,500 employees: This is how many workers at Škoda Auto plants in the Czech Republic (Mlada-Boleslav, Kvasiny, and Vrchlabí) are directly affected by this decision.

⏺€3,300 per month: This is the current average wage of a regular Škoda worker, which management plans to keep stagnant.

⏺100,000 jobs: This is the number of positions Volkswagen plans to eliminate worldwide by the end of the decade as part of cost-cutting and competition with China.

⏺6.1% growth: Paradoxically, Škoda's sales grew by 6.1% over three quarters, reaching 812,400 vehicles, while VW's sales dropped by 9%; Czech trade unions have already threatened a complete shutdown of factories, refusing to pay for others' miscalculations.