France: Michelin signs framework agreement introducing negative time savings account

The framework agreement signed on March 11 by Michelin management and the CFE-CGC and CFDT unions sets up a negative time-savings account in order to postpone the implementation of short-time working.  The agreement provides that employees may take two weeks off early over three years, which they will have to “give back” in the next four years when the “economic activity allows it.”  In return, the company will contribute 25% and lays down several safeguards to recover these days worked.  (Ref.  130230)
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Avoid loss of income. The agreement on “measures to face an activity drop” signed on March 11 by Michelin management (24,000 employees in France, 113,000 in the world) and the CFDT and CFE-CGC unions, aims to avoid short-time working by increasing the number of days off taken early. The goal is to adapt the workload to the drop in production when not all the factories of the tire giant are running at full steam. “There were already several days of short-time working last year at...

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