Volkswagen cuts manager bonuses by 10% for two years, plans further cuts
Volkswagen won't sell any of its German factories despite drastic cost cuts go through Brad Anderson December 24, 2024 13:56 As part of the restructuring, Volkswagen management will slash bonuses in 2025 and 2026. Deep cost-saving measures are designed to ensure the company's long-term stability. Europe's largest carmaker also confirmed significant cuts to its production in Germany. A few days ago, Volkswagen and Germany's IG Metall union reached an agreement on cost-saving measures that will reduce more than 35,000 jobs nationwide by 2030. The cuts are expected to save the company 1.5 billion euros ($1.5 billion) in annual labor costs. While the layoffs are a blow to employees, the impact will also be felt by about 4,000 managers, who will face significant pay cuts as part of cost-saving efforts. German sources said managers will forgo bonuses equivalent to 10% of revenue in 2025 and 2026. Over the next three years - 2027, 2028 and 2029 - bonuses will be further…
Ford cuts manager bonuses by 65%, will only reward
CEO Jim Farley eager to lower costs and improve quality of Ford models go through Brad Anderson 21 hours ago Company bonuses will be linked to a new performance system to increase employee accountability. Bonuses may be adjusted starting as early as this quarter. Ford will cut company bonuses as part of a new system that rewards employees only if they meet certain goals to cut costs. CEO Jim Farley is eager to save money while also improving the quality of Ford models. Company bonuses will now be linked to performance systems to increase employee accountability. Manager bonuses will be cut by 65% of their current total. "I'm proud of the progress we've made, but we're not completely satisfied," Farley said of Ford's recent third-quarter earnings report. Read: Own a Ford? Stellantis wants you and they're ready to pay you to switch "The team is rewarded when we meet or exceed targets for these factors and we achieve the ambitious…
VW wants to scrap bonuses and cut wages by 10%
The German automaker has finally made its union demands public and is pushing for deep spending cuts Volkswagen eventually submitted a proposal to the IG Metall union, calling for the cancellation of some bonuses and a 10% salary cut. This contrasts with the union's demands for a 7% wage increase and the reinstatement of the terminated agreement. Volkswagen made no mention of plant closures but said it wanted "employees to help safeguard the future of the company." Volkswagen recently reported dismal third-quarter results, and now they're looking for employees to help pick up the slack. This might explode like a lead balloon because they are essentially telling IG Metall the union to fuck off. According to the automaker, the union wants a 7% wage increase and the reinstatement of the recently terminated agreement without modification. Volkswagen said it was unable to do this due to the "economic crisis in the automotive industry" and further demanded a 10% pay cut. The…
Island routes launch new benefits and early booking bonuses
Meeting planners looking to create unforgettable group experiences in the Caribbean can now take advantage island route new Early booking bonusfor groups traveling in 2025 and 2026. If booked before November 30, 2024, the Caribbean travel company is offering generous travel points and travel rewards, perfect for corporate vacations, incentive travel and large conferences. The program offers a $150 travel credit for small groups of 40 or fewer people and up to $2,000 for larger groups of more than 300 people. These points allow planners to choose from a variety of unique Caribbean tours and excursions, ensuring an experience tailored to the unique needs of each group. In addition to travel points, planners can also leverage from Perk Oasis—A range of complimentary extras such as upgraded food and beverage menus on catamaran sailings, complimentary transfers and a dedicated reception desk to streamline event logistics. Island Routes CEO Ryan Terrier said in a press release: “This is a unique opportunity for…
Ford offers huge bonuses to dealers who offload F-150s
Ford's new dealer incentives could lead to better deals for customers go through Brad Anderson October 18, 2024 09:53 Dealers are encouraged to order F-150 Lightning models from Ford distribution facilities. Because of these incentives, some dealers may be encouraged to offer customers better prices. Dealers will pay for each F-150 Lightning XLT, Flash, Lariet or Platinum model they order. Ford dealers across the U.S. can receive up to $22,500 in bonuses by ordering a 2024 F-150 Lightning model from one of the automaker's Rapid Replenishment Centers (RRP). These centers act as regional distribution facilities, allowing dealers to stock fewer electric vehicles in their showrooms. The incentive program launched on October 15th and will run until November 15th. Dealers will receive a $1,000 incentive for each F-150 Lightning XLT, Flash, Lariat or Platinum model ordered, up to a maximum of nine units. For dealers who order 10 to 15 qualifying trucks, the payment will jump to $1,500. This means a…
Pleasant Holidays offers bonuses for group bookings:
happy holiday and its luxury brands, Geneseoffering huge group booking bonuses for nearly 100 people Marriott Hotels & Resorts worldwide. Meeting planners can receive up to $3,000 in incentives when booking group accommodations at participating hotels, a valuable opportunity for corporate events, conferences and boutique meetings. This award is available for standard groups (10 or more) and premium groups (5 or more) for 2026 travel booked before December 20, 2024. Bonuses vary by hotel, with many hotels offering double standard group bonuses. Some hotels and resorts even offer triple bonuses. Covering locations in Asia, Central America, Europe, Hawaii, Mexico, the Middle East and the United States, the program offers a wide range of options for international and domestic events. "Pleasant Holidays and Journey provides award-winning service and support for multi-generational families, business incentive trips, gatherings of friends, weddings, honeymoons and any travel party requiring five or more rooms," said Jack E. Richards said. in a press statement. “Marriott Hotels &…
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