October - December

Porsche brings planned wage increase forward to February 2011Following a special bonus, Porsche goes a step further in recognition of its flexible workforce

Stuttgart. The Board of Management and Group Works Council of Dr. Ing. h.c. F. Porsche AG have resolved to bring the 2.7 percent wage increase agreed for April 2011 forward to February. “Not least thanks to the flexibility of our employees, Porsche has generated positive earnings even during the past two crisis years. By bringing the wage increase forward, the Board of Management wishes to show its gratitude to the entire workforce”, explains Thomas Edig, Head of Personnel and Social Affairs and Deputy Chairman of the Board of Management of Porsche AG. In recent years, the company has dispensed with using bargaining leeway to cut or defer benefits. In addition to this, voluntary benefits such as special bonuses or Christmas bonuses have been maintained to the full extent.

“These earnings would not have been possible without this workforce. That is why, in agreement with the Board of Management, we will avail ourselves of the scope provided by the IG-Metall union’s collective labour agreement and bring the wage increase forward”, explains Uwe Hück, Chairman of the Group Works Council of Porsche AG. The “Collective Agreement on Wages, Salaries and Apprenticeship Pay” provides scope for bringing forward or deferring, by a voluntary company agreement, the time of payment of the wage increase by up to two months depending on the economic situation.

“Even in the midst of the economic crisis, we refused to reach into the pockets of our employees. Furthermore, despite the economic crisis, we agreed in the process of safeguarding locations to continue offering permanent employment to 100 trainees a year and to invest heavily in the Zuffenhausen, Ludwigsburg and Weissach locations, as well as giving our workforce an employment guarantee until 2015”, Uwe Hück added. In October, Porsche AG paid all employees a special bonus of 2100 euros for the past financial year. In the month of November, the Christmas bonus will be paid out to the full extent.