French Companies Plan Bonuses After Macron Appeal

By Olivia Bugault

A handful of French companies said Tuesday that they would pay bonuses to some employees in France in response to a speech by the country's President Emmanuel Macron aimed at defusing social unrest.

Publicis SA (PUB.FR), Altice SA (ATC.AE), Iliad SA (ILD.FR) and Jacquet Metal Service (JCQ.FR) said they would offer between 500 euros ($570) and EUR1,000, while other companies said they would consider the possibility of bonuses.

Paris and other French cities have been rocked by antigovernment demonstrations in recent weeks, with protesters opposed to a planned fuel tax, low wages and social inequality. The protests and rioting have shut businesses and stores at the height of the Christmas shopping season, posing a risk to economic growth.

In an address on television Monday evening, Mr. Macron outlined measures aimed at soothing tensions, including raising the minimum wage and reducing taxes for some pensioners. He also called on "all employers who can do it to pay a year-end bonus to their employees."

Advertising company Publicis is planning a one-off EUR1,000 bonus to about 1,600 employees in France whose gross salary is below EUR2,500 a month, the company said overnight, while Altice also plans a "solidarity bonus" of EUR1,000 to some France-based employees. Telecommunications company Iliad said Tuesday that 6,000 of its France-based employees would receive the same amount in an exceptional bonus.

Steel company Jacquet Metal Service will pay a EUR500 bonus to its French employees in support of the national effort, a spokesman said Tuesday.

The companies said they would pay the bonuses once the law making them tax-exempt is passed.

Elsewhere, telecommunication firm Orange SA (ORA.FR) will also participate in the "solidarity effort," Chief Executive Stephane Richard said late Monday on Twitter, though without specifying bonuses.

"It is time to assess our strength and gather goodwill to move forward, without forgetting the message of the yellow vests!" Mr. Richard said, referring to the fluorescent vest worn by protesters.

Other large French employers such as energy company EDF SA (EDF.FR) and retailer Carrefour SA (CA.FR) said it was too early to say whether they would take a similar step. Energy company Total SA (FR.FR) and car maker Peugeot SA (UG.FR) said they have paid bonuses in the past, but didn't dismiss the possibility of an exceptional added bonus, according to their spokespeople.

Cristina Roca contributed to this article.

Write to Olivia Bugault at olivia.bugault@dowjones.com

(END) Dow Jones Newswires

December 11, 2018 13:02 ET (18:02 GMT)

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