Siemens announced that it will share about $233 million (€200 million), in payment, to its employees for their efforts and dedication during the COVID-19 period. This ‘special’ payment will not be given to senior managers.
Siemens announced the COVID-19 payment scheme via a Tweet:
The dedication and compassion of our employees has blown us away this year 🙏 As a token of our appreciation we will be giving out an extraordinary bonus:https://t.co/Eu0iNwQSth
— Siemens (@Siemens) November 2, 2020
“This decision honors the workforce’s extraordinary performance during the pandemic, which Siemens has handled excellently so far – thanks also to its employees. The company is also making this payment to live up to its role as a responsible employer during these special times,” the company also said in a press release.
As of September 30, 2019, the company had around 295,000 employees worldwide on the basis of continuing operations. In April 2020, Reuters reported that the company did not plan on cutting its staff numbers despite the pandemic impacts.
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Siemens says that all eligible employees will get their payment before the end of 2020. Joe Kaeser, President and CEO of Siemens AG, says that this payment expresses the company’s gratitude. It is important to note that it will be a one-time special payment.
“The months behind us presented a huge challenge for our company, too. And together, we’ve mastered it comparatively well. By making this one-time special payment, the Managing Board is underscoring its appreciation for our colleagues’ extraordinary performance and dedication under the most difficult conditions,” Kaeser explains.
Like all other companies that deal with physical goods and services; Siemens also experienced its share of hardships during the COVID-19 pandemic. Its CEO says that some employees went ‘the extra mile’ to keep Siemens on track.
Employees all over the world are entitled to about $1,164 (€1,000). However, the specific amount will be adjusted separately for each country. Their Siemens COVID-19 payment will be based on the World Bank’s Independent Purchasing Power Parity Index.
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