Siemens: strong increase in managers’ wages outrages Germany

Publication

21 September 2006 à 08h34

Reading time

2 minutes

Publication: 21 September 2006 à 08h34

Reading time: 2 minutes

Just ahead of painful restructurings, the Supervisory board of Siemens announced a 30 % wage increase for the 12 members of its management. Staff and public opinion are outraged. IG Metall is toughening its stand. (Ref. 06927)

Publication

21 September 2006 à 08h34

Reading time

2 minutes

Publication: 21 September 2006 à 08h34

Reading time: 2 minutes

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This weekend, Heinrich von Pierer, president of Siemens’ supervisory board and former CEO, declared to have compared the wages of the 12 members of management with those of the leaders of similar firms. He noticed that these were at the bottom of the scale. In 2005, the average wage of the members of the board of directors of Deutsche Bank was 7 million euros, DaimlerChrysler 5 million, Linde 2.8 million, but “only” 2.5 million euros at Siemens. Siemens management did note not get any wage incr

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