Now that the worst of the economic crisis seems to have passed, Berlin, Germany-based electronics and powerhouse Siemens in December said thanks to its employees worldwide with “special payment” bonuses totaling $430 million.
“The company came through the crisis with flying colors,” Siemens AG President and CEO Peter Loscher said in a statement. “Our 400,000 employees can be very proud of their achievement. For their extraordinary performance in a difficult time, I owe them my deepest respect and gratitude.”
Nonmanagement employees in the United States received almost $100 million. Siemens officials said the bonus is a one-time payment.
During the recession, the global organization had to slash more than 17,000 jobs—including some top executives—to cut costs and boost margins.
Contact: Elizabeth Cho of Siemens, (212) 258-4589.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/12985/siemens-employees-get-big-post-recession-bonus "