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| Home > Newsroom > Press releases | ||||||||||||
13/06/2008 Cyclocity: agreement concerning a profit-sharing scheme for the employees of Vélib' and of the self-service bicycle hire sites in France Paris, June 13, 2008 – JCDecaux SA (Euronext Paris: DEC), the No.1 outdoor advertising company in Europe and in the Asia-Pacific region, No.2 worldwide in this industry, and No.1 in self-service bicycle hire, announces that its subsidiary Cyclocity – which manages all 10 sites* providing self-service bicycle hire services in France – recently signed an employee profit-sharing scheme with the CGT trade union organization. In accordance with the commitments made by the senior management team of Cyclocity, negotiations were launched with the CGT, the only representative trade union organization in the company, to allow Cyclocity's employees to enjoy a performance-related profit-sharing scheme for 2008-2009-2010. All employees working for the company for at least 3 months in 2008 will benefit from this scheme and the amount paid out to them, if the predetermined objectives are attained, will entitle them to receive substantial extra income equivalent to one month's additional salary. This new scheme reasserts the determination of the senior management to associate Cyclocity employees with the company's performance targets and to promote a sense of solidarity between all members of the workforce. As the Cyclocity France Work's Council has not yet been set up, it is necessary to obtain the approval of at least 50% of the company's employees. A referendum will be organized on June 27 in order to be able to proceed with the introduction of this new scheme. The senior management of Cyclocity has also promised the CGT to hold discussions in the very near future about the provision of mutual health insurance and the organization of the salary structure. Key figures Cyclocity's principal site is currently the installations devoted to Vélib' in Paris. On May 31, this site employed a total of 350 people. With an average age of 27.2, 87% of the employees are male, 81% have been given unlimited-term contracts, and 73% work on a full-time basis (excluding students). Pay rises of 3% were granted on January 1, 2008. Cyclocity has a total of 475 employees in France. * Cyclocity sites in France: Aix-en-Provence, Amiens, Besançon, Lyon, Marseille, Mulhouse, Nantes, Paris, Rouen, and Toulouse. :: Cyclocity: agreement concerning a profit-sharing scheme for the employees of Vélib' and of the self-service bicycle hire sites in France (58 Ko)
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