PARIS — Four of the five Vivarte unions voted and signed an agreement for a social plan on Thursday.
This comes after the ailing French retail group said in April that it planned to lay off 1,481 employees at its various chains and shutter 197 stores.
The unions that signed the agreement obtained additional severance, “equivalent to half of a monthly salary or 1,000 euros [$1,120 at current exchange] per year of seniority,” said Jean-Pierre Quintanilla, the representative of CGT, one of the four unions that signed the collective agreement.
“We also managed to get an overall budget of 5.2 million euros, [$5.87 million] dedicated to training,” he added.
The French Labor Authority has yet to validate or amend the agreement, Quintanilla said.
The group didn’t return calls for comment.