20 February, 2014 - Vallourec has signed on 7 February, 2014, a
“Generational Contract” with two French confederations of trade unions (CFDT and
CFE CGC), which will remain in vigor until June 2016. The contract, which is
applicable to all French entities of the Group, foresees to increase the
employment rate of young professionals and seniors and to introduce accompanying
measures aiming at improving training and working conditions.
The first priority is to increase the employment rate of young people
in Vallourec’s French entities. Within the period of application of the
contract, one quarter of newly recruited employees in France will be under 26.
This measure will be accompanied by a continued commitment to the training on
the job formula (“alternance” in French), where students study part time at
university while working as regular employees for Vallourec, and a commitment
that “alternants” still represent 5% of workforce in 2015.
The second priority is to increase the employment rate of seniors older
than 45 years, with the commitment that they represent 25 % of new recruits over
the period of application of the contract. Special attention will also be paid
on their working conditions and retirement measures, depending on
The deployment of the generational contract will be subject to yearly
evaluation based on key indicators in order to ensure its efficiency.