The Volkswagen brand will hand out a €5,900 (about US$6,270 at today’s rates) performance bonus to roughly 115,000 of its German employees for 2014.
The bonus is lower compared to what VW gave workers at its six western German factories the three previous years when it paid €7,500 (~US$7,970) for 2011, €7,200 (~US$7,650) for 2012, and €6,200 (~US$6,590) for 2013.
VW works council chief said that the bonus was “significantly higher than the figure calculated on the basis of the collective bargaining agreement”.
The German company pays out around 10 percent of operating profit at the passenger-car brand to workers as annual bonuses.
Commenting on the matter, VW Human Resources Director Horst Neumann said:
“In 2014, the employees of Volkswagen produced a strong team performance in several markets despite the difficult conditions. This commitment will pay for each and every employee. Volkswagen pays a fair basic salary, ensures that everyone participates in success and honors individual commitment by a performance-oriented remuneration component. It is always necessary to maintain a balance between rewarding performance and safeguarding jobs.”
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