German sports car manufacturing organisation Porsche is awarding 21,000 employees a bonus of up to €9,111 (£7,885).
The bonus will be made up of two components, including an award of €8,411 (£7,279) in recognition of the organisation’s positive results and exceptional staff performance in the 2016 financial year.
The remaining €700 will be paid as a contribution to the Porsche VarioRente pension scheme or to individual pension schemes.
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The bonus amount for each staff member will be adjusted to reflect their individual working hours and their length of service at the organisation.
Over the 2016 financial year, Porsche achieved a revenue of €22.3 billion (£19.3 billion), and saw its workforce increase by 13% to reach 27,612 employees.
Oliver Blume, chairman of the executive board at Porsche, said: “For Porsche, 2016 was an eventful, emotional and, above all, highly successful year. This was thanks to our employees, who enabled us to expand our attractive model range to include an array of new and exciting sports cars […] The expertise and passion of our staff forms the basis of a successful future for Porsche.”
Uwe Hück, chair of the group works council at Porsche, part of the Volkswagen (VW) Group, added: “Negotiating a bonus is never easy. However, this time it was particularly difficult to arrive at an outcome. In the end, no one in our large VW family received anywhere near as large a bonus as our employees at Porsche. We had to walk a very fine line during the negotiations. On the one hand, supporting the group is very important to me, something that leads to us taking on staff from Audi and Volkswagen. On the other hand, we want to reward our staff for their outstanding achievement.
“The result was this extraordinary and one-off, but completely justified, bonus. The aim was to show solidarity for colleagues in the group and at the same time to thank the staff at Porsche.”