EUR 3,200 special payment for each Porsche AG employeeExecutive Board and Groups Works Council reach agreement
Stuttgart. In view of the positive development of business at Dr. Ing. h.c. F. Porsche AG, Stuttgart, the Executive Board and Head of the Porsche Group Works Council again agreed on a special payment for the past 2004/2005 fiscal year. The agreement states that each full-time Porsche AG employee who joined the company before August 1, 2004 will receive a bonus of EUR 3,200. This amount is EUR 200 above the amount paid in the 2003/2004 fiscal year, in addition to the Christmas bonus which is above the collective wage agreement level. The employee bonus will be transferred to staff the next time wages or salaries are paid. The relevant works agreement is to be signed over the next few days.
Harro Harmel, Human Resources / Personnel Director at Porsche AG: “As a result of our consistent growth track and ongoing improvements in efficiency, in the last fiscal year we also posted an upturn in unit sales, revenues and profits. Naturally this is due primarily to our employees. With this bonus we would like to express our particular thanks and recognition.“ The Head of the Por-sche Group Works Council Uwe Hück expressed his satisfaction with the result: “That the work force benefits from the Porsche AG success with a bonus is part of our corporate culture. Naturally, it is a particular incentive for our employees when they see that their productivity and flexibility also pays off.”