20th Oct 2005 16:38
Eurotunnel PLC/Eurotunnel S.A.20 October 2005 For immediate release20 October 2005 EUROTUNNEL PURSUES OPERATIONAL REORGANISATION 900 voluntary redundancies split approximately between UK and France Implementation of the company's new business model EUROTUNNEL has today (20 October 2005) completed a major phase of itsoperational reorganisation. Following several months of negotiations, the legalconsultation period with staff representatives on the terms of a plan tosafeguard employment, has been completed. A total of 900 employees, split approximately between the UK and France, willhave left the company by June 2006. These are exclusively voluntaryredundancies; Eurotunnel had committed not to make any compulsory redundancies.This important reduction in staffing reinforces the company's financial positionwithout compromising in any way safety or quality of service, which are thehallmarks of Eurotunnel's operation. At the end of the plan Eurotunnel'sheadcount will be brought back to 2,300. This reorganisation reflects a new business model which more closely alignsEurotunnel's transport capacity to fluctuations in demand. Jacques Gounon, Eurotunnel Chairman and Chief Executive, said: "We need a company that is more flexible, more reactive to our markets, and morein tune to the needs of our clients. "It is thanks to this effort that we will be able to maintain and strengthen ourposition as cross-Channel market leader. The remaining employees whosecommitment, motivation and sense of professionalism I salute, are committed towork together to reach these objectives and by so doing will ensure the longterm success of this great company." For media enquiries contact the Eurotunnel Press Office on + 44 (0) 1303 288728or + 44 (0) 1303 288737. Email: [email protected] For investor enquiries contact Xavier Clement on + 33 1 55 27 36 27. Email:[email protected] Eurotunnel manages the infrastructure of the Channel Tunnel and operatesaccompanied truck shuttle and passenger shuttle (car and coach) services betweenFolkestone, UK and Calais, France. Eurotunnel also earns toll revenue fromtrain operators (Eurostar for rail passengers, and EWS and SNCF for railfreight) which use the Tunnel. Eurotunnel is quoted in London, Paris andBrussels. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Eutelsat Com