Volkswagen (VWAGY) is exploring a series of cost-cutting measures for its core brand, including a 10% wage cut and a two-year wage freeze, as it seeks to save EUR 4B, Handelsblatt newspaper reported on Sunday, citing company insiders, according to Reuters. The carmaker is under increasing pressure to reduce expenses amid a challenging economic climate. Workers, meanwhile, have criticized management for not presenting a clear future strategy, despite promises of a new plan in the works, the publication reports.
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