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.October
13, 2004
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This Week:
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Further EUR 3,000 bonus payment for each Porsche AG employee:
Executive Board and Group Works Council reach agreement
Stuttgart - Against the backdrop of the positive earnings situation at Dr.
Ing. h.c. F. Porsche AG, Stuttgart in the 2003/2004 financial year, the
Executive Board and Group Works Council have again decided to issue a
bonus payment. Accordingly, each full-time Porsche AG employee who joined
the company before August 1, 2003 will receive a sum of EUR 3,000, in
addition to the Christmas bonus which exceeds the level agreed in
collective bargaining.
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This is the same amount
that was paid in the last financial year. A figure of EUR 520 has
been agreed for trainees and apprentices. Employees will receive
their bonuses with the next payment of their wages/salaries. A
company agreement to this effect will be signed in the next few
days. About the figures for the employees of Porsche subsidiaries
(such as Porsche Leipzig GmbH) has not been made a decision yet. |
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Furthermore, the Executive
Board and the Group Works Council have agreed that Porsche will continue
to invest in its successful partial retirement model, which currently is
limited to July 31, 2005. Both sides will take up negotiations to extend
the Porsche partial retirement program over the coming weeks.
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Harro Harmel,
Personnel Director at Porsche AG commented, "With the bonus payment
that has now been agreed, the Executive Board would like to express
its thanks and recognition for the outstanding performance of all
employees and their flexibility in respect of change. At the same
time, management anticipates that the work force will continue to
display a high level of flexibility in the future." |

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(Oct 8, 2004)
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