Thales Pay Offer

October 5, 2017

Dear ALL,

 

The below offer is for LR1-7 Job Families 7 & 10 plus site engineers ONLY.  Please note that I still have to come up with a form of words regarding CPI and this is not a measure that the RMT accepts for the inflation rate as we use the RPI measure. However, that is not substantive to the overall agreement and is a tidying up exercise.

 

I would therefore be grateful if you could feed back to myself or reps asap regards this offer.

 

This is the maximum that can be achieved through negotiation and Thales have made it clear that this is the most that they can afford.

 

Therefore, should this offer not meet your aspirations then further rejection would mean the RMT undertaking a ballot of our members and any associated action that our members wished for. So please give honest feedback, because you’re either happy with the offer or you are willing to potentially take strike action to further push your pay claim

 

The offer:

 

Thales have confirmed the ebit for 2017 will be paid, so the offer is in summary:

 

2017 1.8%

2018 2%

2% plus 0.5% ebit related

 

 

YearBase %Ebit Related %Total%Additional offer
20171.5%0.3%*1.8%Increased base offer by 0.3% ,

0.3% Ebit related paid in Jan 18 onto base salary*

20182%2%“Inflation Protection”**

Base % increased to reflect Guaranteed Ebit component

20192%0.5%***2.5%“Inflation Protection”**

Base component increased to 2%

 

* 0.3% increase to base salary – based on delivery of 2017 EBIT targets (confirmed). To be paid in January 2018 and backdated to 1 January 2017. EBIT related payments are in addition to any gain share payment.

** Inflation Protection – Base % will be reviewed subject to significant movement in CPI index as previously described

*** 0.5% increase to base salary – following delivery of 2019 EBIT targets.  To be paid in January 2020 and backdated to 1 January 2019.  EBIT related payments are in addition to any gain share payment.

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