- Mar 19, 2009
REPORT: BMW warns employees of looming pay cuts
A profit-sharing program for our board members, executives and all employees is an important element of our compensation system. We apply this system in good times as well as in challenging times. I am convinced that our employees understand the difficulty of the current situation and are willing to accept this hardship.Although sales and profits have taken a beating (and BMW is clearly not alone), Reithofer is quick to reiterate that BMW is solvent and determined to remain independent... regardless of any rumors.
[Source: The Independent]