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  10% in the hands of employees in France

The objective of 10% to be held by employee shareholders in France by 2030 was launched last month in Paris by the French Federation of Employee Shareholders Associations (FAS). This may be compared with 4 to 6% held now in large French companies (depending on definitions), and to some 10% in the USA. President Macron and the French Government will back this objective, seeing  employee share ownership as a key factor for the revival of a population of individual investors. After eight years of negative policies under Presidents Sarkozy and François Hollande, this is a very good signal for employee share ownership in Europe. France is back !


Press review
We have a selection of 29 remarkable articles in 12 countries in December 2017: Canada, France, Germany, Hungary, Ireland, Italy, Luxemburg, Poland, South Africa, Spain, UK, USA.
Canada: Employee buyout for Daily Herald newspaper.
France: New employee share plans for Kaufman & Broad, for Axa, for Total, for Suez. Management/Employee Buyout for Fondasol. Successful employee buyouts through workers' co-operatives. Instead of employee share ownership, the CFDT Union advocates for France the German model of Mitbestimmung.
Germany: With the "Berlin Appeal for more Employee Share Ownership", 60 prominent German companies and organisations call for radical change in German policy.
Hungary: A first point on the impact of the new regulations of 2015 in the Act on Employee Share Ownership Plans.
Ireland: EU backs tax break for new SME share-options scheme.
Italy: EFES Barometer of employee share ownership policies.
Luxemburg: So far, stock options and warrants have been taxed at low levels and were open to misuse.
Poland: PwC reports on the introduction of employee share ownership in Poland: "A chance for companies, a chance for Poland".
South Africa: Staff of Barclays Bank of Kenya, Ghana, Uganda and Zambia will soon be given an opportunity to acquire shares in their parent company.
Spain: Spanish employees of Alcampo manage their shares through a dedicated holding company in Luxemburg.
UK: "Employee-owned" Prospects Group acquired by Shaw Trust. New companies turning to the Employee Ownership Trust scheme. The number of companies having turned to Employee Ownership Trusts has increased by 120 since April 2014, far from a "boom". Positive progress for European employee share ownership policies.
USA:  Some companies actually pay $0 in federal tax without relying on any accounting tricks. How? Because they are S-corporations that are 100%-owned by their employees through an ESOP (employee stock ownership plan).

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   With best regards



Marc Mathieu
Secretary General
Avenue Voltaire 135, B-1030 Brussels
Tel: +32 (0)2 242 64 30 - Fax: +32 (0)2 808 30 33
Web site:
EFES' objective is to act as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee share ownership and participation in Europe.

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