Will take effect on 1 June and will be valid through to 2020
Iberdrola's 7th Collective Agreement, which includes improvements in conditions for 8,500 employees, has been signed
- The over 1,000 staff of Iberdrola's engineering subsidiary will now benefit from the same conditions as the rest of the workforce
- The company continues to promote flexible working hours, enabling reconciliation of home and work life, and to review salaries based on the evolution of the operating results.
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).