Porsche gives out fat checks for annual bonuses after a successful 2017

Article by Christian A., on March 24, 2018

Working in the automotive industry can be such a great thing especially if you’re under the right company. We have heard of bonuses that brands like Audi, Daimler, and General Motors give, and they are pretty massive. This time, Porsche is giving away their fare share to their employees after a successful financial year in 2017. The automaker is giving away bonuses to around 23,000 workers.

The Porsche Executive Board and Group works council made an agreement to give a bonus of €8,600 plus the €700 that will be directed to company’s own pension scheme, or to individual ones. Aside from that, after 70 years of being in the industry, with their very first model, the 356 that dates back to 1948, the automaker will give employees an additional €356 to celebrate this model. Similar to last year, the automaker then gave their employees a yearly bonus of €9,111 to celebrate the 911.

To be fair to everyone, the company is not giving the same amount of bonus to every person in the company. The amount each person will be getting is based on their working hours as well as the amount of time they had been working in Porsche.

Porsche decided to give an amount of up to €9,656 (or $11,940) based on the company’s performance last year. And the automaker’s sales actually went up by four percent to 246,000 cars. Revenue had gone up by 5% to €23.5 billion ($29B), and the workforce went up by 8%, now to a total of 29,777 employees. Furthermore, the operating result increased by seven percent to 4.1 billion euro, and the return on sales went up to 17.6 percent. A few of the models that really helped increase the automaker’s sales last year would be the 911 GT3, GT2 RS, Panamera Sport Turismo, and the Porsche Cayenne.

Oliver Blume, Chairman of the Executive Board of Porsche AG, said that it was a result of team effort that 2017 turned out to be such a great year for them. And this is why 23,000 employees will benefit from the bonus.

Looking forward, it seems like this year will also be quite significant for the company especially because the will be introducing the first versions of the next generation 911 (992). Aside from that, we might also see the 718 Cayman GT4 as well as the 718 Boxter Spyder.

After reading this, don’t you just wish that you were working in one of those luxury car brands too? But as mentioned earlier, not everyone in the company will get the same amount of bonus, so you will still have to work up the ladder if you would like to get that big of a bonus after every financial year.

Press Release

9,656 euro bonus and jubilee payment for Porsche employees

Porsche shares the success of the company with its employees: After the most successful year in the company’s history, employees at Porsche AG will receive a special bonus of up to 9,300 euro gross.

This is the agreement reached by the Porsche Executive Board and Group works council. Porsche employees are rewarded for their extraordinary commitment with this special payment. There are two components to the bonus: 8,600 euro will be paid out for the exceptional performance of staff during the 2017 financial year. 700 euro will be paid as a special contribution to the Porsche VarioRente pension scheme or to individual pension schemes.

In addition to the special bonus for 2017, Porsche employees will receive a one-off 2018 anniversary bonus of 356 euro gross. This bonus honours the 70-year anniversary of the Porsche sports car, with which the sports car manufacturer recalls the first Porsche 356 production model in 1948.

During the 2017 financial year, the sports car manufacturer increased its deliveries by four per cent to 246,000 vehicles, achieving a revenue of 23.5 billion euro (an increase of five per cent). At the same time, the operating result rose by seven per cent to 4.1 billion euro, and the return on sales increased to 17.6 per cent. By the end of 2017, the Porsche workforce had grown by eight per cent to 29,777 employees. Highlights among the many new products for 2017 are the 911 GT3, GT2 RS, Panamera Sport Turismo and Cayenne.

The bonus will be paid to around 23,000 employees
The bonus for 2017 will be paid to around 23,000 employees at Porsche AG, adjusted to their individual working hours and length of service at the company. “The successful Porsche year 2017 was a team effort”, says Oliver Blume, Chairman of the Executive Board of Porsche AG. “We are proud of the great commitment and passion of all our colleagues. At Porsche, the focus is on people."

Uwe Hück, Chair of the Group Works Council, emphasises the strong team performance behind this year’s bonus: “Porsche employees deserve every cent of the bonus that they are getting this year. After all, these outstanding results were not handed to us on a plate – they were achieved with a lot of hard work. This is why I am really proud of our Porsche team and their outstanding performance. Our motto is: Less talk more action.”

Source: Porsche

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