Fight Covid-19: Porsche employees get bumper bonus, encouraged to donate it all

The voluntary bonus from Porsche to its employees was because of a successful 2019 financial year. The company states it was decided upon in January, before Covid-19 became a pandemic.Employees have now been encouraged to make voluntary donations to charitable organizations.
By : Shubhodeep Chakravarty
| Updated on: 11 Apr 2020, 11:37 AM
Photo courtesy: Porsche
Photo courtesy: Porsche
Photo courtesy: Porsche
Photo courtesy: Porsche

Celebrating a successful financial year 2019, Porsche recently gave its employees a voluntary bonus but then encouraged them to use the money for noble causes at a time when Covid-19 outbreak has posed a massive challenge for mankind.

Porsche has stated in a press statement that it has traditionally always allowed its employees to have a share in the company's success. The most recent voluntary bonus had already been decided before the Covid-19 disease became a pandemic and engulfed almost every country in the world. It was jointly determined by the Executive Board and the Works Council at the beginning of the year 2020 and consists of two components - 9,000 Euro will be paid out for the special commitment of the Porsche workforce in the 2019 financial year while 700 Euro will be available as a special contribution to the Porsche VarioRente or to the individual pension plan.

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At a time when car makers around the world are facing extremely challenging times, the voluntary bonus would have come as a massive cheer for employees who, however, have been encouraged to donate the amount. "Employees are encouraged to make voluntary donations to charitable organizations. The Executive Board at Porsche AG is also personally supporting this initiative and is donating a total of half a million euros privately. This donation supplements the Porsche donation program for hospitals and charitable organizations," the company's press statement elaborated.

(Also read: In coronavirus-ravaged Italy, Ferrari says business mostly unharmed. Here's why)

Porsche also credited all its employees for all the efforts to ensure that the 2019 financial year was a success. "The positive development of Porsche is the result of a great team effort. Everyone has contributed to it. Everyone should benefit from it. This year's voluntary bonus stands for solidarity, as well as tax revenues and purchasing power for the restart," said Oliver Blume. Werner Weresch, Chairman of the General and Group Works Councils of Porsche AG. "The success of our company is only possible through the work of our colleagues. All of them have worked for Porsche with great commitment in the past year. It is part of our Porsche culture that the workforce is also rewarded for this."

First Published Date: 11 Apr 2020, 11:21 AM IST
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