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Porsche Hikes Worker Bonuses 4%
Porsche AG says it will pay its hourly employees in Germany bonuses worth as much as €8,911 ($10,100) each for their work last year compared with €8,600 in 2014.
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Porsche AG says it will pay its hourly employees in Germany bonuses worth as much as €8,911 ($10,100) each for their work last year compared with €8,600 in 2014.
The richer payout comes as the company’s parent, Volkswagen Group, scrambles to cut costs ahead of recall repairs, regulatory fines and legal settlements related to 11 million diesels it rigged to cheat emission tests. Some of the affected vehicles are Porsche models fitted with the group’s diesel engines.
CEO Oliver Blume says Porsche workers deserve the hike for helping increase output and boosting the company’s operating profit 25% to €3.4 billion ($3.8 billion).
Earlier this month the group’s Audi unit said its average worker bonuses would drop to €5,420 from €6,540 in 2014. The VW brand has not yet announced its worker bonuses for 2015, but they are widely expected to drop below last year’s €5,900 average.
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