Ferrari (NYSE:RACE) signed new Performance bonus agreement for its Italian workforce, further investing in its employees
Ferrari and the trade unions on 26 September signed a new Performance bonus agreement, which will be in force from Ys 2020 to 2023, in the context of the trade union relationships as normed by the Collective labour agreement (CCSL).
The agreement improves the economic conditions and places a Strong focus on training, parenting and sustainability.
New training modules have been designed to address topics not directly linked to specific job skills, but aimed at further engaging Ferrari employees in the Company’s activities, values and history.
As a result of the Company’s positive results, the Performance bonus has been redefined and will increase over the next years. The bonus will depend on production, financial and quality-related KPIs and on the contribution of each employee to the results of the Company.
This incentive scheme is part of the Company’s broader welfare system, which aims at putting Ferrari women and men at the heart of every activity. The growing focus on training, bonuses linked to the improvement of products and processes, free medical examinations for employees and their families, scholarships, and the meticulous attention paid to the working environment are just some of the initiatives through which Ferrari supports its employees in reaching their full potential, in the belief that its People are the most important source of innovation.
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Source: Ferrari
Ferrari (RACE) rating Buy
Ferrari is the Aristocrat of the automotive sector.
Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.
HeffX-LTN overall technical outlook for RACE is Neutral to Bearish, overhead resistance is at 150.83, and support at 145.22 as 1 Key indicator is Very Bullish in here. Ferrari finished at 149.56, +0.12 Friday in NY.
Note: Goldman Sachs upgraded Ferrari to ‘buy‘ from ‘neutral ‘calling the stock’s pullback a good “entry point.” “We upgrade Ferrari from Neutral to Buy, offering 15% upside to our new price targets of 182. Our thesis, outlined in Life of Luxury published last month, is fundamentally unchanged post Ferrari’s in-line 2-Q results. We view the stock’s recent pullback since late July 16 has provided good entry point in here.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame
Have a terrific weekend…
