CR
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Where does the money go? To a decent place!...
Wilhelm Schmid (Lange CEO) said today that the company is increasing the base salaries for Lange employees at the manufacture by an average of 30%-50%. He said that's where a substantial amount of money from Lange's recent price increases is being directed -- that the company wanted to implement really meaningful salary increases rather than just token amounts. This was nice to hear!
He also spoke about how the company is the major benefactor in the Glashütte community -- like if a local school needs something fixed, Lange will often fund that.
Hearing such things reminded me that Lange is in a bit of a different position from brands that are located in larger cities and have less of a community impact.
Where does the money go? To a decent place!...
Wilhelm Schmid (Lange CEO) said today that the company is increasing the base salaries for Lange employees at the manufacture by an average of 30%-50%. He said that's where a substantial amount of money from Lange's recent price increases is being directe...
Very good corporate governance
I don't know of that's the correct words. Well done Lange! 👏🏼
Sounds too good to be true. 30-50 % ....
Inflation was 15% last year and this year together. A payrise of 30% is double the inflation and sorry I don't buy that.
Just look at Kununu.com to get an idea what a watchmaker at ALS earns: an average of 31700€ per year (before taxes and social insurances)!
This average is based on 19 answers of employees, gross annual salaries range from 22900€ to 49000€. Based on the average salary of 31700€ this translates to 1815€ net (after taxes and insurances) per month.
+1...these numbers just don't make sense.
I wonder if, like government budget calculations, they measure the projected aggregate over 10 years (or some other multi-year period).
So they were seriously underpaying…
…employees before this? That’s the only way it makes sense.
Kudos to Lange.
Paying a decent wage and supporting their community are solid business practices.
I suspect this is a bit of marketing doublespeak....
The AVERAGE increase is 30-50%. For example, some may have received an increase of 1% while others an increase of 100% so it "averaged" to an increase of 75% to all employees. If, for example, a 1% increase went to the janitor who makes 25,000 and a 100% ...
I think PR talk
All these increases are not going to employees, they still atr record profits, etc. Nice to be doing that but they could have raised wages without huge increases in pricing; it's not like they have been losing money. Also, I don't need companies to charge...
