Iberdrola : 7th Collective Agreement, which includes improvements in conditions for 8,500 employees, has been signed
May 24, 2017 at 10:30 am EDT
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Iberdrola and the General Workers Union (UGT), Association of Energy Technicians and Professionals (ATYPE), Independent Energy Union (SIE), Workers' Committees (CC.OO.) Workers' Trade Union (USO) and Trade Union Confederation (CGT), which account for 93.55% of the company's union representation, signed in Madrid this morning the 7th Collective Agreement of Iberdrola Group.
This new agreement will apply through to 2020 and will benefit 8,500 Iberdrola employees in Spain. They include the staff of Iberdrola Ingeniería y Construcción, a company that up to now had its own Collective Agreement. When it takes effect, this coming 1 June, the 1,000 employees that make up this subsidiary's team will be granted the same conditions as the rest of the workforce.
With the signing of the 7th Collective Agreement, Iberdrola continues to consolidate its firm commitment to stable, quality employment. On the one hand, the company continues to promote reconciliation between work and family life.
The company, which in 2007 became the first one listed on the Ibex 35 to introduce the unbroken working day all year round, has once again backed flexible working hours: the margin in clock-on and clock-off is 1.45 hours and employees can leave on Fridays from 2pm. Furthermore, staff who need to for organisational and production reasons can do 1,000 hours per year compulsory hours and 670 hours per year set directly with their managers.
Iberdrola will also improve contributions to its employees' social security plans, gradually increasing them from the current 55% up to 65%. For Iberdrola professionals who joined the company before October 1996, the provision to the social security system increases by 350 Euro, progressively, throughout the agreement's effective period.
Finally, the group and the said union representation have also agreed to maintain the current link between the variation in salary and the achievement of Iberdrola España's gross operating profit target (Ebitda).
Iberdrola SA published this content on 24 May 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 24 May 2017 14:29:21 UTC.
Original documenthttps://www.iberdrola.com/press-room/news/detail/firmado-el-vii-convenio-colectivo-de-iberdrola-que-incluye-mejoras-sociales-para-8-500-empleados-4321666720170524
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Iberdrola, S.A. is one of the leading Spanish electricity producers and distributors. The group is also the world's No. 1 producer of wind energy. Net sales break down by activity as follows:
- production and sale of electricity, and renewable energy (51%): 163,032 GWh produced in 2022 and broken down by country between Spain (56,698 GWh), Mexico (55,938 GWh), the United States (22,711 GWh), Brazil (14,751 GWh), the United Kingdom (7,823 GWh), and others (5,111 GWh);
- transmission and distribution of electricity (49%).
Net sales are distributed geographically as follows: Spain (42.4%), United Kingdom (18.1%), Brazil (15.9%), United States (14.6%), Mexico (7.5%) and others (1.5%) .