Cepsa applies an ERTE to some 2,500 service station employees

Cepsa has requested a temporary employment regulation file (ERTE) until October 31, which will affect some 2,500 workers in the service station network that it manages directly and will be rotating, so that they will be in it around about 1,200 employees each time.

The oil company announced its results on Monday and reported on the measures it has adopted to protect the company's cash flow generation in the face of falling oil prices and lower demand stemming from the COVID-19 pandemic.

Among the measures, this ERTE is found in service stations to introduce flexibility in the restructuring of equipment at each station.

The ERTE that has been requested is valid from April 29 to October 31, although it could end earlier, since the idea is to incorporate workers as demand recovers, sources from the company have explained to Efe.

The file is applied at Cedipsa, a Cepsa subsidiary that includes the 479 service stations directly managed by the oil company, which has a total network of around 1,500, within which Cedipsa's represent a third.

The workers affected by the ERTE are about 2,500 of the total of 3,196 employees that Cedipsa has and it will be rotating, so that the same workers will not always be out of work.

Furthermore, Cepsa is committed to supplementing affected workers up to 100% of their fixed remuneration.

Cepsa closed the first quarter of the year with losses of 556 million euros, compared to 151 million that had a net profit last year, incorporating a provision of 350 million for the lower value of crude oil inventories and a deterioration in exploration and production assets for an amount of 188 million.


Source link