Conti Gives Employees a Cash ‘Thank You’
As a means of thanks for their contribution to the company’s recovery from the recession, Continental AG’s 146,000 employees worldwide will receive a one-off payment. Executive Board member responsible for human resources, Heinz-Gerhard Wente, announced that a total of 45 million euros has been set aside for this purpose. “After the serious economic and financial crises last year, our employees throughout the world demonstrated their commitment, working hard to contribute substantially to Continental’s speedier-than-expected recovery,” he said. “In recognition of this commitment, the Executive Board decided on the one-off payment for the spring of 2011, even though the company is still facing several major challenges.” Exactly how much an employee will receive depends on where he or she lives, however. While Continental’s 45,000 workers in Germany will receive 400 euros, those employed in lands with ‘lower living costs’ will receive only 200 euros.
Furthermore, on November 22 Wente announced that the previously agreed upon pay increase scheduled for the 25,000 plus metal industry sector workers Continental employs in Germany has been brought forward from April 1, 2011 to February 1, 2011. “We want to enter into the relevant talks specified in the collective bargaining agreement as soon as possible,” he stated.