- Siemens AG distributed approximately $7 million CAD to Canadian employees below management – mostly in the form of no-cost shares
- Eighty percent of Siemens employees worldwide hold shares in the company
OAKVILLE, ON, July 18, 2018 /CNW/ - More than 80 per cent of eligiblei Siemens Canada employees are now Siemens shareholders as the company recently distributed a total of €400 million from a profit sharing pool to eligible employees in 102 countries, primarily in the form of Siemens AG shares. In total, approximately 300,000 of the company's 377,000 employees worldwide now hold Siemens shares and have a true vested interest in the company's success.
"Siemens Canada strongly believes in having our employees participate in their company's achievements and to see so many benefitting from almost $7 million in profit sharing allocated in Canada is proof of our commitment," said Faisal Kazi, CEO, Siemens Canada. "This ownership culture at Siemens has always been an integral part of our organization and is one of our biggest strengths around the world and here at home."
The Siemens Profit Sharing program was established in 2015 and enables all eligible employees below the management level to receive shares at no cost following particularly successful fiscal years and with no personal investment on the part of the employees.
In addition to Profit Sharing, Siemens' global Share Matching Program forms the core of the company's equity culture and is one of the world's largest employee equity programs. This share plan has been implemented in annual tranches since 2008.
About Siemens Canada
Since 1912 Siemens Canada has stood for engineering excellence, innovation, quality and reliability. Siemens technology in the fields of electrification, automation and digitalization helps make real what matters to Canadians. From the Atlantic to Pacific oceans, Siemens Canada employees deliver solutions for sustainable energy, intelligent infrastructure, healthcare, and the future of manufacturing. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of efficient power generation and power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a foremost provider of medical imaging equipment and a leader in laboratory diagnostics and clinical IT. Sales for Siemens Canada in fiscal 2017 (ended September 30), were $2.5 billion CAD. The company has approximately 4,300 employees and 52 locations across Canada. Further information is available at www.siemens.ca.
i Figure applies to eligible employees in Canada with active, full-time, permanent status who were employed by a participating legal entity of Siemens Canada.
SOURCE Siemens Canada Limited
For further information: Contact for journalists: Laura Heidbuechel, Corporate Communications, Siemens Canada, Email: [email protected], Phone: 289.952.1600, Follow us on Twitter: www.twitter.com/SiemensCanada