Siemens seeks damage limitation in collapse of BenQ's German mobile phone ops
AFP, October, 2006
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FRANKFURT (AFP) — After a public outcry over the collapse of BenQ's German mobile telephone making operations, electronics giant Siemens has sought to repair its reputation by cancelling a generous pay-rise for top managers and using the money saved to help BenQ's German employees instead. Siemens chairman Klaus Kleinfeld told the mass-circulation daily Bild that the group was shelving plans to award a whopping 30-percent pay hike to management board members and re-direct the cash into a financial hardship fund for BenQ's German employees instead.
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"We want to show solidarity", Kleinfeld said Monday, announcing that Siemens -- which offloaded its loss-making mobile phone operations on to BenQ last year -- had decided to set up a 30-million-euro (38-million-dollar) fund to help pay for employee re-training. "We think the way BenQ has acted in Germany is unacceptable and want to help where we can," Kleinfeld said. "If BenQ is going to ...
