France-headquartered water utilities giant SUEZ is reinforcing its support measures to provide additional financial resources to fight Covid-19 impacts. These include compensating workers placed on partial unemployment, reducing the Group’s dividend, and its executive committee members donating one-quarter of their salaries to finance research and provide support for healthcare workers during the lockdown period.

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Since the virus appeared in January, SUEZ has mobilised across the world to help customers – large, small, private individuals and industries – around its missions: water treatment and distribution, waste collection and recovery. Responsible for providing essential services, SUEZ plays a key role in public health, with the help of its partners. 

 

Employee support

 

“The Group wishes to warmly thank its employees for their daily commitment, essential to provide its missions and to ensure business continuity, the firm said in a statement. 

 

Worldwide, SUEZ employs 90,000 personnel across five continents. The Group generated total revenues of €18 billion in 2019.

 

“All employees who during this period have been placed on partial unemployment will be duly compensated in accordance with the SUEZ social policies applicable in their country, or receive at least 50 per cent of their salary in countries without an adequate social system,” the statement continued.

 

In France, SUEZ will provide a net €1,000 bonus to all teams on the ground who have been mobilised in order to ensure business continuity. Furthermore, employees who have been placed on partial unemployment will receive their salary in full. 

 

Finally, the profit-sharing will be paid as per initial schedule. 

 

Exec salary donations

 

As a measure of solidarity, the CEO and the Executive Committee members have decided to donate 25 per cent of their salaries during the lockdown period. The donations will be provided via the SUEZ Foundation to the Institut Pasteur and to Unicef to finance research and provide support of healthcare workers during the crisis. In addition, the SUEZ Foundation will allocate significant part of its budget to Covid-19 support measures. 

 

In order to contribute to these solidarity measures, which are at the heart of SUEZ mission, the Board of Directors calls on its shareholders to adopt during the upcoming General Assembly a proposition of a dividend of 0.45€ per share – a reduction of around one-third compared to the previous fiscal year.      

 

Bertrand Camus, SUEZ CEO, stated: “SUEZ is currently mobilised to provide our customers with essential services during the global sanitary crisis. Due to its geographical span and scope, and thanks to the solidity of its balance sheet, the Group can set up solidarity contributions in addition to its operational commitment. We are preparing for tomorrow, today.”