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Porsche Bucks (Euros?)Trend, Pays Bonuses

Automaker hopes to maintain workers during rough transition.

by on Oct.08, 2009

Porsche workers will take home bonuses worth more than $1,500 each, but ousted CEO Wendelin Wiedeking's golden parachute is more like $70 million.

Porsche workers take home bonuses worth more than $1,500 each; ousted CEO Wendelin Wiedeking's golden parachute is $70 million.

These days, simply getting a paycheck seems to be good news, what with automakers and auto suppliers slashing jobs at a frantic pace.  But the German sports car manufacturer, Porsche, is bucking the trend.

The Stuttgart-based maker recently lost a contentious battle for domination with Volkswagen AG, and there’s plenty of uncertainty about its future as it prepares to be folded into the industry giant’s vast empire.  So, to keep its well-trained workforce from bolting, Porsche has announced it will hand out bonus checks of about $1,500 each to its 12,500 employees for the recently concluded fiscal year.

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In other times, that would’ve been a distinct disappointment since the bonus figure will be down a hefty 71% from a year ago.  But consider that Porsche may wind up one of the only major automaker handing out any bonuses at all during this, the worst global automotive downtown since the end of World War II.

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