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VW announces 3,700-euro bonus for 86,000 workers

12 March 2008, 23:09 CET

(FRANKFURT) - Volkswagen, the biggest European car maker, will give 86,000 workers a special bonus of 3,700 euros (5,700 dollars) following strong results in 2007, VW said Monday.

The group posted a net profit of 4.12 billion euros last year, double the previous year, on sales of 108.89 billion euros.

VW personnel director Horst Neumann said the bonus was meant to reward staff who had worked "under great pressure."

They had accepted longer working hours in 2006 for no change in pay, in anticipation of a bonus.

VW had also paid workers a bonus that year of 2,710 euros.

The measure announced Monday concerned only a small fraction of VW workers who number around 325,000 in all, however.

Meanwhile, Porsche, the luxury sports car maker that is slowly taking over VW, paid its staff a bonus of 5,200 euros for its 2006-2007 fiscal year.

Porsche has a total workforce of around 11,400 people.

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