Government Minister Stéphane Valeri Meets Staff Representatives from Borgwarner
Monaco, 17 April 2014 - This morning, the Minister of Health and Social Affairs, Stéphane Valeri, met with employees' representatives from the automotive components company Borgwarner, at their request. They had come to express their recognition to the Prince's Government and to Minister Valeri for the help and support they had received with regard to their company's redundancy plan. This was a spontaneous approach, which the Minister said he appreciated.
Stéphane Valeri pointed out that there was no cause for celebration, because the closure of a company is always stressful for the employees concerned, but some encouraging progress had been made with the support of the Government and through the constructive dialogue that had been established between the employer and staff representatives. Thanks to these joint efforts, the definitive plan sets out measures that are favourable to the employees with regard to redundancy (1.8 months of salary per year of employment, almost ten times more than the legal requirements) and measures to help them find new employment. As a reminder, a reemployment unit has been set up, financed by the employer, for a period of twelve months, in addition to the sum of EUR 15,000 that has been allocated per employee for retraining purposes.
The Minister of Health and Social Affairs confirmed to the employees that, for its part, as a special concession, the Government, would allow staff who had been made redundant and who are not resident in the Principality or neighbouring towns to register with the Employment Office, to help them find a new job. He assured them he would remain vigilant regarding the overall implementation of the plan.