STORY: Volkswagen's management will take pay cuts adding up to over $310 million by 2030.

That's according to VW human resources board member.

Their comments were published in a local paper on Wednesday (Jan 8).

They said the VW board would take a larger cut proportional to their salary than the rest of management or the workforce.

Volkswagen and unions struck a landmark agreement in December to cut costs at the carmaker.

They pledged to reduce staffing by 35,000 by 2030 and cut capacity at its German plants by 734,000 units.

VW said the deal would allow savings of 15 and half billion dollars annually in the medium term.

Unions had said during negotiations that leadership figures should also do their bit and take pay cuts.

They've placed blame for the carmaker's malaise on poor strategic decisions by management.