Mar 09, 2017
Leading technology company Continental will give a cash reward to its employees around the world. The amount of bonuses for the relevant persons for the 2016 financial year is a total of 150 million euros. Only in Germany each employee will receive about 1050 euros.
"Thanks to the outstanding work of all our employees around the world, we are every day confidently moving towards the goal. The bonus in the form of equity participation in profits is a recognition of their hard work and contribution to the creation of a sustainable cost for our company. In this regard, it is especially important for us to express the "sense of elbow" as described in our corporate values, common to all cultural communities and units, "explained Dr. Ariane Reinhart, member of the Continental board of directors, responsible for Personnel policy.
"According to the general corporate agreement, employees in Germany, including trainees and students, will receive a bonus in the form of an equity participation in the profits for 2016. We are in the forefront of employee participation in the management of the company and are proud of this fact, "said Frank Michael Hell, chairman of Continental's corporate board.
At the heart of the program for the payment of bonuses in the form of equity participation in profits is the principle of creating value by the company. The amount of the amount depends on the country, taking into account legal and contractual obligations, and also on the value of local wages. Depending on the country, each employee will receive approximately 1050 or 520 euros.
The total amount of bonuses is more modest than in the previous year. This is due to the fact that in the financial year 2016 the company produced a lower cost due to various circumstances. However, the number of employees who are entitled to payment has increased.
Continental develops intelligent technologies to ensure the mobility of people and goods. As a reliable partner of industrial enterprises, an international supplier of car accessories and tire manufacturer, the company offers environmentally friendly, reliable, convenient, individual and affordable solutions. In 2016, the concern, consisting of five divisions: Chassis & Safety, Interior Equipment, Powertrain, Tires and ContiTech, achieved turnover of 40, 5 billion euros and today it employs more than 220,000 employees in 55 countries.