HANOVER, Germany—Continental A.G. said it is passing out up to $130 million in bonuses to its 160,000 employees worldwide.
Employees in high-cost countries such as Germany or the U.S. will receive a bonus of about $1,170 in April, nearly 40 percent more than in 2012, Continental said. Employees in lower-cost countries will receive $585.
The company said the bonuses reward its employees for their important contribution to the firm. The terms of the bonus program differ from one country to the other, and the program takes into account both statutory regulations and local purchasing power.
On this basis, the bonus varies in amounts between $535 and $1,070, but for 2012, an added bonus payment is being made for early attainment of many of Continental's mid-term goals in its key financial figures, the company said.
Payment of the bonus is contingent on continuous employment with the company throughout 2012 and as of March 31, 2013.