16 Personnel Expenses
Personnel Expenses
in € million | 2022 (adjusted) | 2023 | |||
Wages and salaries | 591.0 | 628.2 | |||
Social security, pensions and other employee benefits | 122.7 | 138.1 | |||
713.7 | 766.3 | ||||
The personnel expenses include expenses for severance payments in the amount of € 17.2 million (2022: € 11.5 million), allocations to the provisions for pre-retirement part-time work arrangements in the amount of € 13.5 million (2022: € 3.3 million) and expenses for the long-term incentive plan (LTIP) at € 4.5 million (2022: € -1.1 million) (see [E39] Provisions).
In the fiscal year under review, employers’ contributions to statutory pension insurance amounted to € 52.1 million (2022: € 51.3 million).
As of December 31, 2023, Vonovia had a workforce of 11,977 employees (December 31, 2022: 12,117). 3,474 employees were female as of December 31, 2023 (December 31, 2022: 3,220), and 8,503 were male (December 31, 2022: 8,897). The average figure for the year was 11,954 employees (2022: 12,077). Vonovia also employed 632 apprentices as of December 31, 2023 (December 31, 2022: 617).