TotalEnergies to pay out bonus amid strikes, mounting political pressure

The French oil supermajor will pay out a bonus corresponding to a full month’s salary to employees.

BY MARKETWIRE, TRANSLATED BY CHRISTOFFER ØSTERGAARD

French oil and gas company TotalEnergies will pay out a bonus corresponding to one month’s salary in December in response to strikes driven by worker dissatisfaction over wages at French refineries.

The strikes commenced in September, leaving nearly a third of the nation’s service stations with fuel shortages.

This prompted French Minister of Finance Bruno Le Maire to apply pressure on the company. In his view, the company has ”the possibility and therefore the duty” to raise wages for all employees.

According to Bloomberg News, the conditions for wage negotiations have not yet been arranged with all worker representatives. This is due to union CGT opting to stick to the walkouts. However, the company previously expressed a willingness to consider inflation-based wage hikes.

TotalEnergies’ share price increases by 0.6% to EUR 50.1

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