VW workers set for record success bonus

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21 Nov, 2011 Updated Mon 21 Nov 2011 08:47 CEST
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Europe’s biggest carmaker Volkswagen is set to offer employees its biggest ever success bonus this year, CEO Martin Winterkorn said in an interview published Monday.

“The success bonus will reach a new record level for 2011,” Winterkorn told the financial daily Handelsblatt.

The carmaker is expected to share out ten percent of its operating profits among its 100,000 employees in Germany. Once its takeover of truck manufacturer MAN is finalized, Volkswagen is set to control over 500,000 workers worldwide.

The company is also planning a recruitment drive for 2012, and is aiming to overtake US firm General Motors to become the world’s biggest carmaker.

The company's 2011 target is to sell eight million cars, which would increase VW's global market share above 12 percent. For the first time in its history, VW has just broken the six-million mark for the first three quarters of a year, increasing sales by 13.9 percent compared to the same period last year.

DAPD/The Local/bk



2011/11/21 08:47

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