A survey conducted by “Bild am Sonntag” polling all companies listed in Germany’s leading DAX index, indicated that the relief bonus planned by the federal government is being met with hesitation by the majority of these major corporations.
Commerzbank, for instance, has already declined the crisis compensation, which would allow companies to distribute up to €1,000 to employees tax and duty-free. Speaking to “Bild am Sonntag” at the request of BamS, a spokesperson for Germany’s second-largest private bank stated, “Commerzbank currently does not plan to implement such a bonus”. The reasoning provided was that introducing such a relief bonus entails financial costs from a corporate perspective, which could represent an additional economic challenge. Furthermore, the spokesperson noted that the economy is currently in a phase where “many companies across sectors are under cost pressure”.
Other large corporations are also expressing reluctance regarding the bonus. According to the survey of all 40 DAX companies, some firms stated they would “carefully examine and evaluate” the topic once the federal government establishes the concrete legal framework. For example, the chemical conglomerate BASF, along with other companies such as sporting goods manufacturer Adidas and online retailer Zalando, gave similar responses. A spokesperson for VW merely informed “Bild am Sonntag” that the company had “taken note of the federal government’s proposal”. BMW, meanwhile, stated its intention to “review” the proposal but pointed out ongoing collective bargaining negotiations as a competing priority.
The digital conglomerate and newcomer to the DAX, Scout24, voiced significant criticism of the compensation package. While a spokesperson confirmed that the company would “naturally consider” such a relief bonus, they concurrently expressed concern that state relief measures are being implemented through voluntary corporate payments. Their view was that relief should be targeted and applied directly where the financial burden is incurred.
