Stuttgart. Dr. Ing. h.c. F. Porsche AG of Stuttgart, Germany, is once again giving its employees a stake in the company’s extraordinarily positive performance. The management and general works council have agreed for the 2006/2007 fiscal year just ended (July 31), that every full-time Porsche AG employee who joined the company before August 1, 2006, shall receive an ex-gratia special payment totaling 5,200 Euro in addition to his or her annual 13.7 monthly payments (including holiday pay and Christmas bonus in excess of the agreed pay scale). Last year this payment came to 3,500 Euro plus 300 Euro for the company pension scheme. This year’s special payment includes 3,800 Euro based on company performance and an additional 1,400 Euro based on the considerable improvement anticipated in overall profits; the result of special effects, particularly from financial operations.
Both the management and general works council are of the opinion that the successful efforts made to increase productivity, flexibility and quality in the company – and thus to safeguard Porsche sites – must be worth everyone’s while. This is why Porsche is once again handing out a share of the gross company profits to its highly motivated, hard-working employees, whose special commitment continues to form the backbone of our positive development. The special payment will appear on the next salary accounts at the end of October.