STUTTGART, Germany (AP) -- Porsche AG employees will receive a bonus of euro1,100 ($1,600) each for the financial year that ended in July, reflecting the performance of the company's core business, the car maker said Tuesday.
The bonus for the 2008-2009 financial year, which ended on July 31, compares with a payment of euro3,800 the previous year, the Stuttgart-based luxury car maker said in a statement.
The payment will give 7,500 employees a share of the "positive result in the company's core business," as in previous years, Porsche said. It applies to all full-time employees who started work before Aug. 1, 2008.
In June, Porsche said profit for the fiscal year's first nine months -- excluding its holdings in Volkswagen AG -- was down 15 percent at euro4.6 billion as the global economic crisis drove down demand for new cars.
It has not yet issued full-year earnings.
