Workers at company's plants "worked under high pressure last year."
Volkswagen is expected to sign a final settlement with the U.S. government over the Dieselgate next month and this will be the moment when we’ll know the full size of compensations and fines for the company. But as it turns out, things are not that bad in terms of finances, as the company has just announced employees covered by the collective bargaining agreement are to receive a profit share of $4,470 (€3,950) gross for fiscal year 2015.
“Volkswagen employees produced a very good team performance last year despite the difficult situation,” Volkswagen board member for human resources, Dr. Karlheinz Blessing, commented. “Their strong commitment deserves to be acknowledged and is now being recognized in the form of this profit share, which is also a clear signal that the Board of Management and the Works Council will tackle the difficult challenges together.”
Last year, the employees got a bonus of $6,670 (€5,900) – some $2,200 (€1,945) more than this year. If the sales trend for the brand remains unchanged this year, the extra payment in 2017 could be even smaller, as worldwide deliveries of Volkswagen Passenger Cars were down by 3.9 percent in April, compared to the same month in 2015. Still, sales of Volkswagen Group in the first four months of the year are up by 0.6 percent, as all other brands, Audi, Skoda, Seat, Porsche, Volkswagen Commercial Vehicles, MAN, and Scania, are reporting increased sales.
Volkswagen to pay profit share of €3,950 to employees covered by collective bargaining agreement
Board Member for HR, Dr. Blessing, praises joint efforts in difficult year
Works Council Chairman Osterloh: team performance pays off
Volkswagen AG employees covered by the collective bargaining agreement are to receive a profit share of €3,950 gross for fiscal year 2015. This figure was agreed during negotiations between the Works Council chairpersons from the Brunswick, Emden, Hanover, Kassel, Salzgitter and Wolfsburg plants, and the Volkswagen Board of Management. The profit share is based on an adjustment of the collective bargaining agreement with IG Metall. The profit share will in future be calculated based on a two-year period.
Volkswagen Board Member for Human Resources, Dr. Karlheinz Blessing, said: "Volkswagen employees produced a very good team performance last year despite the difficult situation. Their strong commitment deserves to be acknowledged and is now being recognized in the form of this profit share, which is also a clear signal that the Board of Management and the Works Council will tackle the difficult challenges together."
The General Works Council Chairman, Bernd Osterloh, commented: "Employees at our plants worked under high pressure last year. The situation was characterized by special shifts and overtime. Our employees demonstrated their firm commitment to the company, even in difficult times. That is why the Board of Management and the Works Council are convinced that they deserve this profit share. As expected, Matthias Müller proved to be a fair negotiating partner."