Volkswagen Pays Performance-Related Bonus to Some Staff
March 11 2020 - 8:44AM
Dow Jones News
By Jessica Sier
Employees covered by collective bargaining agreements will each
receive a bonus of 4,950 euros ($5,618) for 2019, Volkswagen AG
said Wednesday.
Staff at the world's largest car manufacturer have already
received a total EUR1,690.50 bonus in November, and will receive
the outstanding EUR3,259.50 in May. The bonus is based on the
two-year calculation period laid down in Volkswagen's collective
bargaining agreements.
"This bonus reflects the successful year of 2019," Gunnar
Kilian, Volkswagen HR board member, said.
"For 2020, it is clear that expectations may be more limited.
Not only in view of coronavirus--the economy and therefore also
Volkswagen face a highly challenging year."
Write to Jessica Sier at jessica.sier@wsj.com
(END) Dow Jones Newswires
March 11, 2020 08:29 ET (12:29 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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