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Record bonus awarded to Ferrari employees

March ending, it’s time for bonus, and the employees of Ferrari in Maranello, Italy are the ones to enjoy this moment the most. The carmaker has announced production bonus for employees for 2013. It amounts up to 4,096 euro, the highest ever awarded in the company’s history.

Ferrari seems more than satisfied with the efforts pulled by the workforce, and the distribution of bonus is in recognition of the excellent financial results achieved last year, not least of which were record profits, in addition to other parameters, such as levels of quality.

In actual, Ferrari had already paid the two advances of 1,000 euro each, whereas an extra 2,096 euro will go in the pay packets of employees this month. Overall, for a recently hired young employee, the sum of bonus equals to an extra 20 per cent of his or her annual salary.

Record bonus awarded to Ferrari employees

Unions had played significant role in getting this additional pay packet to reach the staff, as in 2012 they had signed an agreement with the company which is abreacted of subjects – operations linked to objective of sharing company’s success.
Even the last year, apart from the production bonus, an additional three-yearly bonus was also paid out, and Chairman Luca di Montezemolo has announced its extension for a further three years.

Whereas, in 2013 Ferrari too went with a strategy of downsizing its production to less than 7000 cars a year in order to preserve their exclusivity and value over time, which is stated to continue till 2015. Revenues of Ferrari increased by 5 per cent and trading profits rose by 8.3 per cent during last year. Some of the company’s unprecedented figures too stood at an all-time high during the year 2013.

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