VW proposes 10% pay cut to tackle crisis

FRANKFURT (Reuters) – Volkswagen has proposed to cut wages at its brand by 10% to tackle weak demand and high costs, the division’s personnel chief Arne Meiswinkel told journalists after the second round of talks with unions.

Meiswinkel said negotiations would resume for a third round on Nov. 21.

(Reporting by Christoph Steitz and Christina Amann, editing by Thomas Escritt)