Naturgy prepares the largest staff cut since the arrival of Francisco Reynés to the executive presidency of the energy multinational. The former Gas Natural has just proposed to the unions a plan of “incentivized and voluntary” leave for 1,000 workers in Spain, as it progresses’Digital Economy‘and company sources confirm.
The Australian fund IFM launches a takeover bid on 22.69% of Naturgy for 5,060 million
The adjustment, whose economic conditions the company has not yet raised, would affect around 18% of its workers in Spain. The company, whose main shareholders are Criteria Caixa and the CVC and GIP funds, has put on the table a “layoff of personnel in Spain of around 1,000 employees, taking into account the evolution of the energy sector (decarbonisation, energy transition, greater competition … ) as well as efficiency and digitization criteria ”, according to group sources.
The adjustment arises in the middle of the partial takeover bid (takeover) launched by the Australian fund IFM to acquire 22.69% of the company for some 5,000 million euros, an operation that requires the approval of the Government Spanish by virtue of the shielding mechanism of strategic companies that was activated with the pandemic.
Naturgy is in the initial phase of negotiating the plan with the workers’ representatives. This contemplates the voluntary nature of said withdrawals. For this, it will offer the terminations “in an agreed manner” and no age range is proposed, unlike the departures agreed in recent years, in which a minimum of 55 years of age was marked for those affected.
“Naturgy’s will has always been to negotiate with the workforce and it has been and is at all times willing to dialogue and collaborate with the union representation,” add company sources. Since the arrival to the Presidency of Reynés in 2018, Naturgy has released more than 5,000 employees.
According to data collected by Efe, the multinational has reduced its workforce by a total of 9,399 people in the last five years (from 2015 to 2020), due to the divestments carried out in some countries and to job terminations agreed with the employees.
At the end of 2015, the then Gas Natural Fenosa had 19,939 employees, after having integrated the Chilean company CGE at the end of 2014, in what was its largest international operation, and five years later the multinational closed 2020 with a total workforce 10,540 people, according to data from the different annual financial reports of the energy company.
However, this last figure still includes the workforce of the Chilean CGE, because the sale of the electricity distribution business of that Naturgy subsidiary, scheduled for the next few months, has not yet been completed. The multinational itself calculates that its workforce, already discounting the personnel associated with the business sold in Chile, will be around 9,335 people.