It’s fast becoming a tradition: each good year for the German economy sees a plethora of different bonuses being paid to workers, primarily in the automobile, chemicals and pharmaceuticals industries. This year Porsche paid a record 8,600€ to each of its 14,600 staff who altogether made more profits for the company than the 115,000 employees of Volkswagen who were each paid 5,900€ in bonuses. At Merck, bonus payments are distributed worldwide. Auto sub-contractor ZF also paid out bonuses to mark its 50-year jubilee celebrations. Insurer Allianz who is 125 years young and in 2014 made its largest ever profits, gave each of its employees a watch, although they would have preferred the cash.
Rewards not gifts. In Germany the economy benefited more from a weak currency, lower oil prices, and stronger domestic consumption than from being hit by the troubles in the Ukraine or the crisis in Syria, or even the Greek crisis closer to home. Profits skyrocketed and the DAX 30 companies paid out almost 30 billion € in what was an historic year for dividends. As can be expected, increasingly employees are getting a larger share of the cake and in increasingly varying forms. All the same, the
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