Commerzbank to pay 2,000 Euro inflation compensation bonus to workers

Commerzbank (CBKG.DE) will pay staff an inflation compensation bonus of up to 2000 euros ($1,985) in December, Handelsblatt reported on Friday, citing an internal memo it had seen, with those on lower salaries set to benefit the most.

Personnel chief Sabine Schmittroth said in the memo that staff, for example in call centres, who were not covered by collective bargaining agreements would get 2000 euros, trainees 1,000 euros, and people in non-union positions or abroad only 500 euros. Top managers would get nothing.

“The budget for bonuses is limited this year,” she wrote. “It was important to me that we use what budget there is to support those in lower pay brackets.”

($1 = 1.0076 euros)