German carmaker Opel to pay worker bonuses for fifth year in a row

DPA
·1 min read
The "Opel flash" is emblazoned on a hood. German carmaker Opel, a subsidiary of the multinational Stellantis Group, will pay workers bonuses of €1,850 ($1,985) after posting strong sales and financial success in 2023, the company announced on 15 February. Andreas Arnold/dpa
The "Opel flash" is emblazoned on a hood. German carmaker Opel, a subsidiary of the multinational Stellantis Group, will pay workers bonuses of €1,850 ($1,985) after posting strong sales and financial success in 2023, the company announced on 15 February. Andreas Arnold/dpa

German carmaker Opel, a subsidiary of the multinational Stellantis Group, will pay workers bonuses of €1,850 ($1,985) after posting strong sales and financial success in 2023, the company announced on Thursday.

"The bonus for 2023 is the fifth in a row - this is not a matter of course in such challenging times," said Opel chief executive Florian Huettl.

The bonus is paid throughout Opel's operations and will go to more than 12,000 employees in Germany. The bonus is €150 less than last year.

Opel, once a subsidiary of US automotive giant General Motors, was taken over by the French PSA Group in 2017 following decades of losses at the German carmaker.

The PSA Group, which included Peugeot and Citroën, merged with Fiat-Chrysler in early 2021 to form Stellantis.

Opel increased its sales figures in 2023 by 15% compared to the previous year, while Stellantis as a whole closed last year with a record turnover of €189.5 billion and an 11% increase in profit to €18.6 billion.

In addition to the employees, shareholders in the corporation will also see a windfall from the strong performance after Stellantis announced plans for higher dividend payments and an expanded stock buyback programme.