Germany: the trend of early wage increases is growing

Bonus for employees worldwide.  When presenting the annual report this week, Siemens CEO Peter Löscher announced that the company’s profit would increase by 63% for the past year (September 2009-september 2010) sand that, as a consequence, employees would receive their share.  “I would like to express my deepest respect and thanks to our collaborators for these results, secured in difficult times” Mr. Löscher said while announcing that Siemens was going to release €310 million to give an extraordinary bonus of €1,000 maximum per person to its 405,000 employees worldwide.  In addition, its 128,000 German employees will see their salary increase by 2.7% on February 1, 2011, not on April 1, 2011 as the collective agreement provided.  “We want to thank the employees.  But it’s also a signal for headhunting” said Barbara Ederer, the group’s director of personnel.  Forwarding the wage increase is a kind of “economic bonus” provided for in the agreement signed by the metal social partners last February.
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press my deepest respect and thanks to our collaborators for these results, secured in difficult times” Mr. Löscher said while announcing that Siemens was going to release €310 million to give an extraordinary bonus of €1,000 maximum per person to its 405,000 employees worldwide. In addition, its 128,000 German employees will see their salary increase by 2.7% on February 1, 2011, not on April 1, 2011 as the collective agreement provided. “We want to thank the employees. But it’s also a signa

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