BERLIN, Nov. 27 (Xinhua) -- German car maker BMW will cut the bonus payment based on the company's performance for employees from 2020 onwards, a BMW spokesperson confirmed to Xinhua on Wednesday.
Under the new payment scheme, an employee who received a bonus payment of 9,100 euros in 2019 would only receive 7,600 euros (8,358 U.S. dollars), BMW explained.
In addition, the bonus payment and Christmas bonus for employees with a 40-hour contract would in future be calculated on the basis of a 35-hour week, according to BMW.
"This allows us to dispense with drastic measures that others are taking to reduce their costs," said Oliver Zipse, chairman of the board of management of BMW.
For the fiscal year 2018, BMW had announced that its net profits declined by 16.9 percent to 7.2 billion euros while total sales fell slightly by 0.8 percent to 97.5 billion euros.
On Tuesday, German car maker Audi announced that it would cut up to 9,500 jobs by 2025. On the other hand, the company planned to create up to 2,000 new jobs in areas such as electric vehicles and digitization.
