Would a teacher union turn down this bonus scheme?

The other day I blogged about a teacher union turning down a bonus scheme…would they turn this one down?

Volkswagen is coughing up a massive NZ$1.1 billion in bonuses to workers after a record year.

The company sold 9.3 million vehicles, up nearly 12 per cent, in boosting revenues by more than 20 per cent to NZ$305 billion during 2012.

That pushed its pre-tax profit to an asonishing NZ$40 billion. Net profits came in at NZ$10.1 billion. 

VW’s success, however, doesn’t just go to shareholders with the company’s German workforce sharing some of the record profits.

VW says it will pay German workers a bonus of around €7200 or a little over NZ$11,000 at the current exchange rates. The bonus is being given to around 100,000 employees in Germany.

”Profit sharing is hard earned and deserved; it is the equitable participation of employees in the success,” said VW board member Horst Neumann.

”The Volkswagen team has done an excellent job in 2012, and this team effort pays off for everyone.”

 


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  • JonathanP

    Would this even happen in NZ (bonuses on that scale).
    Good to see worker recognition. And the employer gets his/her/their dues for their financial risk.

    • Yip it happens here. In my experience with multinational companies though. The same sort of companies that offer health insurance, retirement plans and other great benefits.

  • AnonWgtn

    Best and most safe cars on the road.
    Have had a VW’s for years.

  • thor42

    Great stuff! This is “one in the face” for the left’s “workers vs employers” nonsense.

  • Grizz30

    The problem is local union would never allow a bonus scheme to be written into their contracts. They want their money irrespective of profits.

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