Bayerische Motoren Werke (XE:BMW)
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6 Months : From Oct 2019 to Apr 2020
By Max Bernhard
BMW AG (BMW.XE) said Wednesday that it has reached an agreement with labor representatives to trim annual profit-sharing bonuses, among other things.
The German luxury car maker said based on the new bonus formula, employees would have received more than 80% of the previous profit-sharing bonus for last year.
BMW also agreed to introduce a dividend-based component to its retirement plans.
The changes become effective next year.
Write to Max Bernhard at firstname.lastname@example.org; @mxbernhard
(END) Dow Jones Newswires
November 27, 2019 06:29 ET (11:29 GMT)
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