Volkswagen to cut managers' bonuses amid diesel emissions scandal

Volkswagen says its managers' bonuses will be cut following the automaker's diesel emissions scandal.

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The automaker said in a statement Wednesday managers and directors agree that the company has to send a signal regarding the management board's pay in light of the current situation.

It says that various models are being discussed but the result would be a significant reduction in variable pay. It didn't give any precise figure.

The company says details will be released in its annual report being published on April 28.

The emissions-rigging scandal erupted in September.