VW to pay EUR6,200 in bonuses to its German workers, 1,000 euros lower than in 2012

Article by Anita Panait, on March 4, 2014

Volkswagen will pay its 100,000 workers in Germany a bonus of EUR6,200 ($8,500) each, which is EUR1,000 less than 2012 and EUR1,300 less than 2011. The lower bonus comes as the carmaker’s namesake brand posted lower sales and profit in Europe, caused by the still slumping demand for vehicles in the region.

The brand posted a 3.9-percent drop in sales in western Europe in 2013 to 811,800. Volkswagen distributes 10 percent of operating profit at the brand to workers as bonuses. "The tougher market situation has a direct impact on the size of the bonus," VW works council chief Bernd Osterloh said in a statement.

VW, which is the largest carmaking group in Europe, is softening its forecast for 2014 due to the continued uncertainty in European vehicle markets.

The carmaker posted a record operating profit for 2013 on higher luxury-car sales and falling costs of a manufacturing revamp. VW is bound to release a brand-by-brand breakdown of results and executive compensation details on March 13. The carmaker has 12 brands. [source: Reuters]

Topics: vw, germany

If you liked the article, share on:

Pin It

Comments

Recommended

On July 11, Audi is set to reveal its flagship luxury sedan, the all new A8. And at this moment, none of us are sure how this model will look....
by - March 29, 2017
The recent Porsche 911 is definitely considered one of the most elite sports car to grace the roads worldwide. The task of producing its successor is challenging enough for the...
by - March 29, 2017
British startup Zenos, which entered bankruptcy administration earlier this year is now back in business. The Norfolk-based sports car manufacturer was bought by a consortium of investors headed by AC...
by - March 29, 2017
It’s quite safe to say that this generation marks the rise of the electric cars. For the past few years, automakers have been very busy trying to find the perfect...
by - March 28, 2017
Want to go for a sportier look, but don’t have enough cash to burn? Good news for future Ford Edge buyers, as the 2018 model year will have an optional...
by - March 28, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries