VW to pay its employees a €3,950 bonus image

Even if the emissions scandal had a serious financial impact on Volkswagen, its employees will receive their annual bonus.

Volkswagen said its employees covered by the collective bargaining agreement are to receive a profit share of 3,950 euros (4,471 dollars) for the fiscal year 2015, but in the future such bonuses will be calculated based on a two-year period. “Volkswagen employees produced a very good team performance last year despite the difficult situation,” Volkswagen Board Member for Human Resources, Karlheinz Blessing, said. “Their strong commitment deserves to be acknowledged and is now being recognized in the form of this profit share, which is also a clear signal that the Board of Management and the Works Council will tackle the difficult challenges together.” This bonus is the gross figure and the employees already have been paid 1,545 euros gross in advance at the end of last November.

The company’s top management have also proved “their strong commitment” amid the dieselgate scandal, as the execs will receive 63.24 million euros (72 million dollars) in bonuses, although significantly lower than normal, a move that triggered fierce criticism from labor unions, investors, and German officials as well.

Volkswagen set aside 16.2 billion euros (18.4 billion dollars) to pay for the cheating scandal and, by next month, it has to finalize the preliminary deal struck with the US regulators over the around 480,000 polluting cars powered by the 2.0-litre diesel engines.