EFES NEWSLETTER - OCTOBER 2009
course in Germany, discussions in Italy and Poland
Things are changing quickly. Until recently, Germany
was quite reluctant about employee ownership. It's only
just since April that a new legislation was in force and
employee ownership is already again on the agenda, with
German trade unions promoting employee ownership as a tool
against the financial crisis, and demanding capital stakes
in troubled companies. However, employers' organisations
seem more cautious. Whatever next !? Same situation in Italy:
Minister Sacconi convened social partners to a roundtable
about employee financial participation, getting positive
reactions from the unions' side but cautiousness from employers.
In Poland, Vice-Prime Minister Pawlak prepares a new privatisation
phase based on employee ownership. Who's next?
Now also in Polish newspapers !!
new information about employee ownership in September 2009,
with 1.445 articles in this press review (on which 541
involving stock options and 315 about workers' cooperatives).
We made a selection of 53 remarkable articles in 11 countries:
Canada, China, France, Germany, Ireland, Italy, Netherlands,
Pakistan, Poland, United Kingdom, USA.
Employees set up a workers cooperative to save GDS sawmill
New successful employee share plans for Axa, for Steria,
and some success stories for workers' cooperatives, employee
buyouts and employee-owned companies (Alma, De Sangosse,
Ceva, Cegelec/Vinci…) Employees could set up a workers cooperative
to save Manuest from closing.
having fallen in 2008, employee savings and employee ownership
funds are growing again in 2009. Some discussions about
schizophrenia and stock options.
"Mitarbeiterbeteiligung wieder auf der Agenda".
It's only just since April that a new legislation was in
force in Germany and employee ownership is already again
on the agenda. German trade unions promote employee ownership
as a tool against the financial crisis, demanding capital
stakes in troubled companies. The SPD promotes a new plan
in this view. However, employers' organisations seem more
cautious. Whatever next !?
Eircom's employee share ownership trust (ESOT), which owns
35% of the company, has agreed to co-operate with the deal
which will be the fifth takeover of Eircom since its privatisation.
Minister Sacconi invites social partners for a roundtable
about employee financial participation, and discussions
seem progressing quickly. However, as recently noted in
Germany, trade unions appear to be more positive than employers'
Still more and more employee ownership in The Netherlands.
Pakistan: Prime Minister Gilani launch the Benazir
Employees Stock Option Scheme as a way to empower workers
of State Owned Entities.
On the way for a new privatisation phase based on employee
"Share schemes feel the squeeze": Just before
the crisis occurred, the number of employees participating
in share option schemes was at its lowest level in 16 years.
A significant contrast with the continuous progress of employee
savings in France. On the other hand, John Lewis puts hundreds
of jobs at risk.
A study conducted by Washington State University found that
hourly wages at employee-owned firms were five to 12 percent
higher than those at other firms. More than 40 academics
recently came together to share findings from research on
how employee ownership motivates employees, improves firm
performance, advances innovation, and supports economic
development. The event was the largest academic symposium
of scholars involved in interdisciplinary study of employee
The full press review is available
political roadmap for employee ownership in Europe
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