The Bookseller.com

13th October 2008

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Editis crisis set to be resolved

01.07.08 Barbara Casassus

The crisis at France's second largest publisher Editis over staff bonuses following the company's sale to Planeta of Spain may soon be over.

The details have not been revealed, but it is understood that four out of the five trade union groups have signed a compromise agreement that is to be endorsed by the Editis supervisory board before being presented to the staff. Only the Confédération Générale du Travail (CGT) has refused to sign, because it rejected the idea of not consulting the staff first and was not satisfied with the terms, union sources told The Bookseller.

The unions have demanded a share of the capital gain from the company's takeover by Planeta and declined the last offer of €1,000 per head. The demands followed French newspaper reports that senior managers had received generous payouts for their role in earning former owner, Wendel, a handsome capital gain four years after acquiring the group.

The management has insisted on a blackout on the agreement until the staff is informed of the terms, the sources said. Managers from Planeta are due to address Editis personnel representatives in Paris on Thursday afternoon, they added.

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