As some automakers return to profitability, and other continue their profitability, the announcement of bonuses in the sector has become somewhat commonplace, and in some cases a point of contention.
It is unlikely many will take issue with the latest bonus announcement, however, as they are going not to executives, but to each and every employee that made Porsche’s success possible during the particularly short fiscal year of 2010, between August 1 and December 31, 2010). The bonus amount was for 1,700 euros, which is approximately $2,400 U.S.
The decision to issue the bonus was approved by a joint decision between Porsche’s Board of Management and the Group Works Council.
Porsche cited the decision to issue the payment on the company’s strong performance despite the very short financial year, having reached a profit of 688 million euros ($973 million U.S.) and a 17.8 percent return on sales.
“This result is underpinned by the energy and flexibility of our highly motivated employees. That is why they have earned themselves the special payment, as a special thank you for their enormous dynamism,” said Thomas Edig, deputy chairman of the Board of Management and executive vice president of human resources.
