Siemens managers scrap pay rise
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Executives at Siemens scrap plans for a 30% pay rise due to fears over the future of its former mobile phone unit.
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Volkswagen workers in Mexico have gone on strike after rejecting a wage increase offered by company management.
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Cancelling pay rises Siemens' board voted this weekend to forgo a planned 30 per cent pay rise in order to set up a â¬30m hardship fund for workers affected by the closure of the German handset business it offloaded to BenQ last year.â¦
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Siemens AG  has extended  its amnesty offer to employees in connection with a probe into  a corruption scandal until the end of February, the company  said on Thursday.
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elta Air Lines said yesterday that it was cutting the pay of executives and other salaried workers by 10 percent and making other changes meant to help it avoid a bankruptcy filing.
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Weekly wages for rank-and-file workers fell because companies reduced the average length of the workweek.
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HANOVER - Management at Volkswagen and union leaders Wednesday agreed to a 28-month pay freeze as part of plans by the giant German-based carmaker to drastically cut costs.
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Siemens AG has extended its amnesty  offer to employees in connection with a probe into a corruption  scandal until the end of February, the company said on  Thursday.
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Siemens&#39; supervisory board plans to dismiss two of its own members as part of a reshuffle following an internal probe into corruption allegations, a report said Friday.
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Workers and managers at Volkswagen&#39;s German plants are &quot;miles apart&quot; in their negotiations over a new pay deal, union representatives have said.
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Thousands of staff at Volkswagen&#39;s Hanover plant walked off the job early this morning in a row over pay. The action came as management and workers&#39; representatives readied to resume deadlocked wage and employment talks.
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MUNICH, Germany : German electronics giant Siemens said that financial burdens connected with a technical fault in its new mobile phone handsets were likely to reduce earnings in the final quarter of its business year ending in September.
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Democratic leaders have been forced to scuttle the 1.7 percent pay hike for the entire year
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Siemens AG said Monday it will defer an executive pay hike and contribute the proceeds to a 35 million euro fund to help employees of its former cell phone business.Comment
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Business & money: Â· Angry shareholders fail to block remuneration policy Â· Â£20m cap on individual rewards is removed
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Despite reporting record profits the chipmaker plans on cutting the base pay of its technical support staffers to compensate for the money it stood to lose by being forced to pay overtime.
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Tube workers have called off a planned New Year&#39;s Eve strike, averting travel chaos, after reaching a deal with managers over hours, pay and conditions.