Siemens AG to Reward Employees for Performance During the Economic Crisis One-time worldwide special payment totaling approximately US$430 million planned
WASHINGTON, Nov. 10, 2010 /PRNewswire/ -- Siemens intends to reward its employees for their outstanding performance during the financial and economic crisis with a one-time special payment. "The company came through the crisis with flying colors. Our 400,000 employees can be very proud of their achievement. For their extraordinary performance in a difficult time, I owe them my deepest respect and gratitude," said Siemens AG President and CEO Peter Loscher. A total of approximately US$430 million (310 million Euro) will be paid out to the company's worldwide workforce.
Out of this, Siemens' U.S. employees will receive a share of almost US$100 million in December 2010, which will be distributed amongst its non-management employees throughout the country. "A company is only as good as its people and we are proud to have some of the best talents in the industry working at Siemens in the U.S.," said Eric Spiegel, President and CEO of Siemens Corporation. "Our employees are the backbone of our success and we truly value their contribution and their loyalty to our company. With this one-time payment we want to thank them for all of their hard work and ensure that they share in the company's success," he added.
Siemens AG (NYSE: SI) is a global powerhouse in electronics and electrical engineering, and operates in the industry, energy and healthcare sectors. For more than 160 years, Siemens has built a reputation for leading-edge innovation and the quality of its products, services and solutions. With 405,000 employees in 190 countries, Siemens reported worldwide revenue of $104.3 billion in fiscal 2009. Siemens in the USA reported revenue of $21.3 billion and employs approximately 64,000 people throughout all 50 states and Puerto Rico. For more information on Siemens in the United States, visit www.usa.siemens.com
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