On March 14, 2009, Siemens confirmed that the spinoff program launched last fall was a big success for around 132.000 German workers of the firm. After the “slush funds scandal”, Siemens wants to consolidate workers’ sense of belongingness to the company. To this end, the German giant is offering, until 2011, a free share for every three shares bought and kept for at least three years: “Our goal is to interest workers in the sustainable development of the firm”, stated a Siemens spokesman. According to him, over half of the workforce and two thirds of middle management have already taken up the offer.
While the crisis continues to run high, workers of a few large firms continue to benefit from profit-sharing and spinoff programs, which, as at Siemens, are used to enhance the feeling of being part of the company and to avoid the loss of talent. At Volkswagen, since 2002, stock transfers have yielded nearly 900 million euro for German workers. (Ref. 090294)
On March 14, 2009, Siemens confirmed that the spinoff program launched last fall was a big success for around 132.000 German workers of th
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