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Volkswagen bosses set for huge £49m bonuses despite emissions scandal
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Seven months on from the breaking of the Volkswagen Emissions Scandal and here’s the state of play:
But…
Yes, you read that right! Despite the PR nightmares and failed assurances, the VW bosses at the top are still going to receive millions in bonuses despite Volkswagen being at the centre of the one the biggest scandals in history.
It doesn’t make any sense, does it? Surely VW bosses bonuses should be the very last thing considered when there are 11 million vehicles worldwide that have been fitted with illegal emissions cheating defeat devices. That’s millions of consumers who are set to lose out whilst senior staff reap in the rewards of a year that saw the German automotive giants at the centre of what is set to be the biggest group action legal case in history.
Millions wiped off their share value; billions set aside to deal with the cost of the scandal; job cuts (which is a huge one when looking at these bonuses); a record annual loss – but still, the bosses get their bonuses!
We’re lost for words!
The nature of the bonuses is of course separate to the action that we are now representing thousands of UK victims for in the High Court of Justice, and there is nothing we can do to stop them from taking such action; but the principle of it all is just crazy.
Many of our clients have said they will never buy from the Volkswagen group again, and many have referenced specifically how let down they feel to find out they are a victim of the scandal. On top of that, many of our clients are disappointed that the lawyers for Volkswagen are trying to dispute responsibility, yet they’ve agreed a compensation deal in the U.S.A.
This is the icing on the cake for many who are already annoyed at the scandal in the first place, but further annoyed at how Volkswagen have seemingly chopped and changed their stories in the press, failed to uphold their assurance, and now reward their top bosses with lucrative bonus deals.
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