VW executives to accept 'sharp reductions' in bonuses

Frankfurt

VOLKSWAGEN'S top executives are willing to accept "sharp reductions" in their annual bonuses as the carmaker struggles to stem the fallout from its massive engine-rigging scandal, the regional state premier of Lower Saxony, where VW is based, said on Wednesday.

"Already in November, chief executive Matthias Mueller expressed an expectation that belts would have to be tightened," Lower Saxony Prime Minister Stephan Weil told the regional parliament in a regular update on the VW scandal.