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Market Chatter: Volkswagen Plans Global Pay Freeze until 2030

MT Newswires·10/19/2026 06:02:45
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06:02 AM EDT, 10/19/2026 (MT Newswires) -- Volkswagen (VOW.F, VOW3.F) is planning to freeze salaries worldwide through 2030, Bloomberg reported Monday, citing its European and Global Works Council. The German automaker instructed human resources managers to prepare to hold compensation at 2026 levels, according to the report. The plans emerged as Volkswagen and German union IG Metall are set to enter wage negotiations in Germany, two months after the company said it would double global job cuts to 100,000. Volkswagen did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)