By TotalEnergies has recently signed a wage agreement with the CFE-CGC, CFDT, and CAT trade unions. This agreement has received majority approval (71%) and is applicable to employees covered by the Common Corpus of Employee Relations Agreements in France, totaling around 14,000 individuals.
Agreement Details
The key provisions of the agreement are as follows:
- A 5% salary increase for the year 2024, which includes a 2% implementation since July 2023.
- The introduction of a Value Sharing Bonus (PPV) equivalent to 75% of one month’s salary. This bonus will be paid before the end of 2023 and is subject to a floor of EUR2,000 and a cap of EUR4,000.
Sharing Company Success
TotalEnergies emphasizes its commitment to ensuring that the company’s excellent performance is shared with its employees. The new salary measures are in line with the collective agreement signed in France last month, which aimed to support employees in their energy transition endeavors. As part of this agreement, an envelope of EUR 2,000 gross per employee was dedicated to their mobility or housing.
Extending the Dialogue
Furthermore, TotalEnergies recommends that each affiliate worldwide, where TotalEnergies’ stake is greater than 50%, engages in a dialogue with their employees and representative organizations. The objective is to offer employees a bonus equivalent to 75% of one month’s salary.
About TotalEnergies
TotalEnergies is a global multi-energy company with a broad portfolio of energy products and services. Their offerings include oil and biofuels, natural gas and green gases, renewables, and electricity. With over 100,000 dedicated employees, TotalEnergies is committed to delivering affordable, sustainable, reliable, and accessible energy solutions for as many people as possible. The company operates in nearly 130 countries and places sustainable development at the core of their projects and operations to contribute to the well-being of society.
Cautionary Note
TotalEnergies Company and its Entities
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
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