SUEZ EWC condemns partial and incomplete information on restructuring

The EWC discussed the financial and economic report of its expert. He detailed the strategic thinking behind the recent proposals of management to bring all Suez energy services together (Elyo, Axima, Endel, Ineo, Fabricom and GTI..). While this will create Europe's largest energy services group, it could lead to significant loss of jobs and be based on wrong choices to service its clients. Just the day before the EWC meeting GTI Netherlands announced to axe 1000 jobs. During the meeting representatives discovered that management had provided different stories to different EWC (Steering Committee Suez and enlarged Steering Committee of Tractebel) and national bodies, and had not been clear about the legal and financial implications. A workgroup will be established to follow the further developments.

Other issues discussed during the meeting:

- The implications of different financial strategic partners such as pensions funds, investment funds and private equity funds.

- Strategic importance of AGBAR for Suez in Spain

- Developments in SITA Germany where management is pressuring the unions to accept reductions in pay and conditions in return for job guarantees.

- Reports on Equality and diversity work group, waste, water and energy committees

- Report on the health and safety steering committee. There is a recent surge in mortal accidents. Management has also adopted a ten point action plan without consultation.

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