All Porsche AG employees are to receive 1,100 Euros as a special paymentProfit-sharing despite the difficult economic environment
Stuttgart. Even this year, Dr. Ing. h.c. F. Porsche AG, Stuttgart, will share the profits in the company's core business with its employees. The Executive Board and the entire Works Council have agreed for the 2008/2009 fiscal year just finished (July 31) that every full-time employee at Porsche AG who began working for the company before August 1, 2008 will receive an unsolicited special payment of 1,100 Euros. Last year, this special payment was 3,800 Euros. The special payment will be transferred along with monthly salary payments at the end of October. Moreover, Porsche AG will also transfer a complete 13th month wage at the end of November along with monthly wage payments as a Christmas bonus.
The Executive Board and the entire Works Council share the opinion that the willingness of the Porsche employees to be so flexible in adapting to the current economic crisis, as well as their successful efforts to increase productivity and quality, thus ensuring the future of the locations, should be rewarded, even during difficult times. With this special payment, the Porsche Executive Board would like to thank all its employees for their outstanding efforts and their high level of commitment. In spite of the difficult economy situation, Porsche AG was able to achieve double-digit returns for the fiscal year just completed.