Flashmag Digizine Edition Issue 107 July 2020 - Page 118


Flashmag July 2020 www.flashmag.net

Eco News



Safran : an agreement to avoid social breakdown in France

Safran avoids the worst in France. The aeronautics equipment manufacturer, affected like all companies in the airline sector by the coronavirus crisis, has signed an agreement with workers unions to avoid any dry layoffs.

The agreement signed on Friday July 3rd between the management of Safran and the CFDT, FO and the CFE-CGC (i.e. 75% of the union representation) certainly foresees a reduction in the number of employees in France. But "no dry layoffs during its 18-month period and no forced mobility," FO told AFP. 3,000 positions will be cut through accelerated retirements, advancing to 2020 and 2021 departures that should have taken place later.

Sources Journaldeleconomie.fr

Bayer : $11 billion to settle Roundup disputes

Without acknowledging its responsibility or faults, Bayer decided to pay an unprecedented amount to compensate the American victims of its pesticide Roundup: from ten to eleven billion dollars.

The deal announced late June by the German chemical giant, which has owned Roundup since Monsanto's acquisition, aims to end 75% of the pesticide's disputes. The latter concentrates a total of 125,000 complaints, registered or not before the courts, filed by American individuals who believe that the product is responsible for their cancer. The company will make a payment of between $8.8 billion and $9.6 billion — including an allowance to cover unresolved cases — to resolve ongoing litigation. Bayer is adding $1.25 billion to support a separate class agreement for future litigation.

Sources Journaldeleconomie.fr


Airbus Airbus taking drastic cuts. The European manufacturer has announced a very large social plan: the aircraft manufacturer will cut 15,000 jobs worldwide. The cleaver was expected, it fell and it hurts. Airbus announced on Tuesday (June 30th) the elimination of 15,000 jobs worldwide, out of a workforce of 135,000 employees. France is particularly affected with 5,000 jobs at risk, Germany is even more affected with 5,100 posts. In the UK, Airbus will cut 1,700 jobs, in Spain 900. 1,300 jobs will be lost in the rest of the world. Management will engage in discussions with unions to find agreements and launch the cuts by next summer.

Sources Journaldeleconomie.fr