BMW to Trim Employee Profit-Sharing Bonuses
November 27 2019 - 6:44AM
Dow Jones News
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 max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
November 27, 2019 06:29 ET (11:29 GMT)
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