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Volkswagen execs lose big on annual bonuses

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Volkswagen intends to put #dieselgate in the past, and one way to do it ― in addition to fixing the millions of rigged engines around the world, of course ― is to have its top executives agree to significantly lower annual bonuses.

Reports indicate that said bonuses will be slashed by at least 30%. Union leaders and Lower Saxony authorities were hoping for them to be completely eliminated.

According to Reuters, Volkswagen’s nine executives in 2014 earned about 70 million euros ($80 million) in total compensation, including 54 million euros in variable pay.