TotalEnergies Agrees to 5% Salary Increase and Value Sharing Bonus for French Employees

TotalEnergies Agrees to 5% Salary Increase and Value Sharing Bonus for French Employees

(IN BRIEF) TotalEnergies has signed a wage agreement for 2024 with majority approval (71%) from the CFE-CGC, CFDT, and CAT trade unions. The agreement covers approximately 14,000 employees in France who fall under the Common Corpus of Employee Relations Agreements (SSC). Key highlights of the agreement include a 5% salary increase for 2024, of which 2% has already been implemented since July 2023. Additionally, employees will receive a Value Sharing Bonus (PPV) equivalent to 75% of one month’s salary, with a minimum floor of €2,000 and a maximum cap of €4,000, to be paid by the end of 2023. TotalEnergies aims to share its excellent financial results with its employees and emphasizes its commitment to supporting employee energy transitions through dedicated funding for mobility or housing. The company also encourages its affiliates worldwide, where TotalEnergies’ stake exceeds 50%, to engage in discussions with their employees and representative organizations to offer a similar bonus structure. Patrick Pouyanné, Chairman and CEO of TotalEnergies, highlighted the importance of these measures in sharing the company’s success with its workforce.

(PRESS RELEASE) PARIS, 15-Dec-2023 — /EuropaWire/ — TotalEnergies has signed with the CFE-CGC, CFDT and CAT trade unions a majority-approved (71%) wage agreement for 2024 applicable to employees covered by the Common Corpus of Employee Relations Agreements (SSC) i.e., around 14,000 employees in France.

In particular, the agreement calls for:

• A 5% salary increase for 2024 (of which 2% already implemented since July 2023).
• A Value Sharing Bonus (PPV) equivalent to 75% of one month’s salary. This bonus, floored at €2,000 and capped at €4,000, will be paid before the end of 2023.

“With this agreement, TotalEnergies is ensuring that the Company’s excellent results are shared with its employees. These new salary measures follow the collective agreement, signed last month in France, on supporting our employees in their own energy transition through an envelope of € 2,000 gross per employee, dedicated to their mobility or housing.” said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies.

TotalEnergies recommended that each affiliate in the world in which TotalEnergies’ stake is greater than 50% enters into a dialogue with its employees and their representative organizations in order to offer their employees a bonus equivalent to 75% of one month’s salary.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, more sustainable, more reliable and accessible to as many people as possible. Active in nearly 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.

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Cautionary Note
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. TotalEnergies SE has no liability for the acts or omissions of these 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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SOURCE: TotalEnergies