Bayer to pay workers extra €600m under profit sharing scheme

01 March 2012 15:32  [Source: ICIS news]

LONDON (ICIS)--Bayer will pay its workers an extra €600m ($800m) under a profit sharing scheme following its strong 2011 results, the Germany-based chemicals and pharmaceuticals major said on Thursday.

Bayer's workers in Germany will get about half of the €600m, the company said. Last year, Bayer’s workers in Germany received €250m under the profit sharing scheme.

Workers will be paid the extra money together with their April wages, the company said.

The size of the individual payout would be determined on the basis of a number of performance criteria, the company said.

Bayer added that in Germany the payout could average around 80%-140% of a worker’s monthly salary.

Bayer employs about 111,800 people worldwide, according to information on its website.

The company employs a staff of 53,600 in Europe, of which 35,800 work in Germany; in North America, Bayer employs 15,800; in Latin America, Africa and the Middle East, 16,400; and in Asia-Pacific the company employs 26,000.

($1 = €0.75)

By: Stefan Baumgarten
+1 713 525 2653

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