Furthermore, he stated that the incentive payment is part of the company's "value sharing" programme, which coincides with an increase in dividend payments to shareholders.
Digital Desk: At a time when corporations are laying off employees, Hermes, a French luxury design company, has decided to give its employees an unprecedented bonus of 4,000 euros (Rs 3,52,024). The incentive will be distributed to all 19,700 employees at the end of February.
According to LeMonde, a French daily, the incentive follows a 6% boost in pay for staff based in France in 2022, as well as a 100-euro (about 9,000) raise awarded in January 2022 and renewed the following July.
Axel Dumas, Hermes CEO, stated during the presentation of the group's annual results that 12,400 employees in France receive the equivalent of 17 months' salary yearly, including profit-sharing and incentive bonuses.
Furthermore, he stated that the incentive payment is part of the company's "value sharing" programme, which coincides with an increase in dividend payments to shareholders. He also informed stakeholders of the opening of two new production sites in France.
Hermes is a French luxury design firm that was founded in 1837. Leather products, lifestyle accessories, home furnishings, fragrances, jewellery, timepieces, and ready-to-wear are its specialties. A few days ago, the company made headlines when a fugitive Hong Kong millionaire made millions by auctioning off several designer bags, notably Hermes.
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