Daimler says board members volunteer for 20% pay cut

Daimler on Wednesday said management board members had agreed to forego 20% of their basic pay as a way to help the car, truck and bus maker cut costs during the coronavirus crisis.

The move comes after Daimler said German employees would switch to shortened work hours.

Supervisory board members have also agreed to a 20% cut and leading managers will see their pay curtailed by 10%, Daimler said.