Basically, the proposal has two priorities, Renault explained: to secure jobs at Renault's production facilities by extending short-time work and to maintain compensation of every single employee. The whole program will be based on "a principle of solidarity", Renault said.
"The management confirmed that engineers and executives together with production and non-managerial staff with salaries based on a fixed number of hours, whose salary would be maintained at 100%, would contribute to a crisis management fund through the non-acquisition of one day of “individual time capital” (“capital temps individuel”, or CTI) for five days not worked (not exceeding eight CTI days per year)," Renault explained in a statement for the press.
In addition, production and non-managerial workers whose contracts aren't based on a fixed number of hours could also receive their full net monthly salaries, the French automaker said, "thanks to a supplement from the crisis-management fund and from the purchase, on a voluntary basis, of one CTI day for every five days not worked."
A final decision is expected to be announced on March 17 when both Renault management officials and trade union representatives meet again to consider the proposal.
The economic chaos reduced Renault's 2008 sales by 7 percent, with revenues totaling 3,791 million euros. In terms of employment, Renault's voluntary workforce adjustment plan convinced approximately 1,700 employees to leave the company.
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