Volkswagen Gives 4950 Euros Bonus To Every Employee – Research Snipers

Volkswagen Gives 4950 Euros Bonus To Every Employee

Despite the saturated fuel vehicles market, Volkswagen sold 10.98 million vehicles last year, becoming the world’s highest-selling car company. Naturally, the overall revenue of the Volkswagen Group is also considerable, and a generous year-end bonus is prepared for each employee.

A few days ago, an email released by Volkswagen showed that employees will be given annual performance bonuses, and Volkswagen employees will receive bonuses of up to €4950.

It is understood that Volkswagen will pay annual performance bonuses to employees every year. In 2018, the bonus was 4750 euros, and this year’s bonus was 4950 Euros, which is also the highest in recent years.

And this bonus was determined in a negotiated agreement with employees last year. At the same time, some employees have received some bonuses last year, and the rest will be paid together with their salaries in May this year.

Bernd Osterloh, chairman of the Volkswagen Group union, said, “2019 has been another difficult year for our colleagues. However, they have begun to work again to bring Volkswagen to the automotive market again. Therefore, employees should be at the company it’s fair to have a share of their success, and they deserve these bonuses.”

However, it is worth noting that the employees who can get this bonus are only employees directly under the Volkswagen Group, which have about 100,000 employees worldwide. Therefore, domestic employees such as SAIC Volkswagen, FAW Volkswagen, and JAC Volkswagen do not have this bonus.

Although the Chinese market is the largest single market for Volkswagen, and domestic Volkswagen employees have also made great contributions, as of now, the employee reward scheme of the joint venture has not been announced.

In addition, since entering 2020, due to the impact of the epidemic, the domestic automobile market has suffered a considerable impact. And the sales of the Volkswagen Department have also fallen sharply. SAIC Group and SAIC Volkswagen have been exposed to launch employee salary reduction programs in response to the external crises from the market.

According to data released by Volkswagen, Volkswagen Group’s global sales in 2019 reached 10.9746 million vehicles, an increase of 1.3% year-on-year, setting a new record for group sales. Among them, the overall sales volume in the Chinese market reached 4,233,600, accounting for 38.6% of Volkswagen’s global sales, and it remains the world’s largest single market. The 2019 financial report shows that Volkswagen Group’s annual sales revenue was 252.6 billion euros, an increase of 7.1% year-on-year; operating profit was 17 billion euros. In the Chinese market, Volkswagen Group’s operating profit from the joint venture was 4.4 billion euros, accounting for nearly 30% of the group’s total profit.

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