Warsaw (Puls Biznesu) – The management of KGHM copper producer are starting to agree with the postulates of their trade unions. The bonus from the net income generated last year remains a question.
KGHM, Poland’s listed copper producer, will have to spend PLN 90m (EUR 22.9m) to meet the requirements of its employees. The trade unions have postulated since April that KGHM, controlled by the state, pays out bonuses out of the high first quarter income (PLN 872m). The three-month income was 70 percent higher than in the same period of 2005. That’s why the trade unions fight for incentive bonuses for 17,500 employees of KGHM.
The management have already started to agree with trade unions in other cases, too. The unions wanted PLN 1,500-2,000 of bonuses added to each wage of 10,000 employees working underground on holidays.
“The management have reviewed the case again and having learnt about the attitude of the Minister of Labor, decided to pay out the bonus. It will be made on June 30”, Mieczyslaw Piotrowski, KGHM spokesman said.
Another postulate which may be fulfilled is to write down PLN 100m of last year’s income for the social fund. The money would come to KGHM’s employees as credits to buy land and build houses.
“We have approved of the suit. Now, the shareholders have to make decision at the GSM to be held on June 14”, Maksymilian Bylicki, KGHM deputy CEO said.
Trade unions are going to fight for even more.
“We still hope for the bonus and new politics against subsidiaries which must have their assets raised”, Leszek Hajdacki, the deputy head of the Copper Industry Trade Union said.
(PLN 1 = EUR 0.255)