SES Ends Social Plan Talks, Moves to Employment Safeguard Plan Discussions

Written on 09 Jul 2020

Luxembourg, 9 July 2020 - SES has reached an agreement with its personnel delegations to discontinue social plan talks for Luxembourg-based SES employees, instead shifting gears to negotiate an employment safeguard plan.

In Luxembourg, SES management and its personnel delegation have had multiple meetings in the last four weeks. Together, they have managed to reduce the number of impacted employees through a voluntary phased retirement programme and redeployment of employees into positions in new growth areas. SES management and its personnel delegation will now work jointly on an employment safeguard plan to find the best solution for the remaining employees.

This global restructuring exercise is part of SES's Simplify & Amplify programme which aims to position the company for future growth and deliver maximum value to current and potential customers and stakeholders in a highly-competitive satellite market.

SES remains on track to generate EBITDA optimisation ramping to EUR 40-50 million annually from 2021.

About SES SES has a bold vision to deliver amazing experiences everywhere on earth by distributing the highest quality video content and providing seamless connectivity around the world. As the leader in global content connectivity solutions, SES operates the world's only multi-orbit constellation of satellites with the unique combination of global coverage and high performance, including the commercially proven, low-latency Medium Earth Orbit O3b system. By leveraging a vast and intelligent, cloud-enabled network, SES is able to deliver high-quality connectivity solutions anywhere on land, at sea or in the air, and it is a trusted partner to the world's leading telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners. SES's video network carries over 8,300 channels and has an unparalleled reach of 367 million households, delivering managed media services for both linear and nonlinear content. The company is listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at: www.ses.com

LINK:	https://www.ses.com/press-release/ses-ends-social-plan-talks-moves-emp...
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