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BMW Warning Employees - 'Expect Pay Cuts'

SmokeEm submitted on 3/19/2009 Official Bell & Ross Timestamp: 9:30:28 PM

10 user comments | Category: Misc News | Source: | SOURCE: www.independent.co.uk

Falling sales will cost BMW board members 40 per cent of their bonuses, with the rest of the group's 100,000 staff also facing pay cuts, it was revealed yesterday.

The German car giant's annual results showed it sold 58,000 fewer vehicles in 2008 and its net profit of €330m (£310m) was nearly 90 per cent lower than in 2007.

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BMW Warning Employees - 'Expect Pay Cuts'

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SmokeEm

— SmokeEm (View Profile)


User Comments

hatepusss

F' you - more better moto wokie

— hatepusss (View Profile)

Posted on 3/20/2009 8:45:58 AM | reply to this comment | Votes: -6   

StarSearch

Only 40% cuts on bonuses?? Didn't they just say that sales were down 90%?? So they are rewarding them with 60% of it based on that??

I need a job there.

— StarSearch (View Profile)

Posted on 3/20/2009 8:54:47 AM | reply to this comment | Votes: 6   

veyron1001

GM has been giving 100% bonuses to the CEOs and great benefits even though they have had negative profit for almost 5 years.

— veyron1001 (View Profile)

Posted on 3/20/2009 9:52:33 AM | | Votes: 2   

AgentOrange

veyron1001:
What's your source for that or are you pulling that out of your arse?

— AgentOrange (View Profile)

Posted on 3/20/2009 2:56:32 PM | | Votes: 3   

M53R

you mean profits down 90%.

— M53R (View Profile)

Posted on 3/20/2009 3:45:51 PM | | Votes: 3   

mpls

Board gets bonuses cuts and no salary cuts whilst employees get cuts i salary..

Treat the employees well an they will treat the company well... hhmm. shows how valued BMW employees are.

— mpls (View Profile)

Posted on 3/20/2009 5:19:41 PM | reply to this comment | Votes: 2   

1dott8

bmw is going through rough times just like every other company at the moment.

— 1dott8 (View Profile)

Posted on 3/20/2009 11:37:38 PM | reply to this comment | Votes: 1   

EducatedOpinion365

at least theyre cuttting bonuses!! un like that stupid @zs at AIG

— EducatedOpinion365 (View Profile)

Posted on 3/20/2009 11:55:41 PM | reply to this comment | Votes: 1   

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