France Telecom Updates on Pensions

Operator makes adjustment to 'Seniors' agreement to address impact of French pensions reform

December 24, 2010

1 Min Read

PARIS -- On 23 December 2010, France Telecom-Orange has opened for signature an adjustment to the agreement on employment for senior workers and second half of career initiatives. The initial agreement, dated 26 November 2009, applicable to more than 23,000 employees in France, was signed by four unions, the CFDT, the CFTC, the CGT and FO, amounting to 68% of the vote at the latest works elections.

As of today,three unions have already signed this amendment: CFDT, CFTC and FO. The sign up period will close on 6 January 2011.

This modification concerns the Part-Time for Seniors (TPS - Temps Partiel Séniors) measure set up under the terms of the 26 November 2009 agreement, giving more than 8,000 employees, who had lost the benefit of the original agreement, as a result of the pensions reform, the possibility of signing up to an end-of-career support programme.

This agreement is part and parcel of the new social contract and its implementation, by allowing working time adjustments during the end-of-career period, in order to ease the transition between working life and retirement.

The amendment will be published in detail at the end of the signature period, on 6 January 2011.

Orange (NYSE: FTE)

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