Arab Today, arab today scandalhit vw gives staff 3950euro bonus
Last Updated : GMT 20:25:08
Arab Today, arab today
Arab Today, arab today

Scandal-hit VW gives staff 3950-euro bonus

Arab Today, arab today

Arab Today, arab today Scandal-hit VW gives staff 3950-euro bonus

The pre-tax premium comes after Volkswagon also revealed huge bonuses
Berlin - AFP

German auto giant Volkswagen announced Friday it is giving its staff a 3,950-euro bonus for 2015, despite suffering huge losses due to an emissions-cheating scandal which sent shockwaves through the industry.

The pre-tax premium -- less than the 5,900 euros handed out for 2014 -- comes after VW also revealed huge bonuses for top executives last month, sparking a storm of criticism.

Those bosses' bonuses generated widespread resentment among employees, especially at a time of salary negotiations.

"Volkswagen staff provided very good work as a team, despite the difficult situation," said VW human resources chief Karlheinz Blessing in a statement.

"Their strong commitment deserved to be recognised," he added.

After criticism about the bosses' bonuses the automaker's supervisory board decided at the end of April to freeze 30 percent of the annual payouts for nine director-level executives.

The frozen amount will be paid out in three years if the company meets stock market targets.

The executives' bonuses sparked intense criticism both from the public and politicians, including German Finance Minister Wolfgang Schaeuble.

Volkswagen was forced to recall vehicles around the world last year after admitting it had installed so-called "defeat devices" aimed at cheating emissions tests into 11 million diesel engines.

The carmaker unveiled a loss of 1.58 billion euros after setting aside 16.2 billion euros in provisions to cover the potential fines, lawsuits and recall costs it foresees from the scandal.

It was the auto giant's first loss since 1993.

VW employs 600,000 people globally.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today scandalhit vw gives staff 3950euro bonus Arab Today, arab today scandalhit vw gives staff 3950euro bonus

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today scandalhit vw gives staff 3950euro bonus Arab Today, arab today scandalhit vw gives staff 3950euro bonus

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday