After management gave in to staff demands for a larger 13th month salary, the staff of the French-based Cristalleries de Baccarat, on strike since 31 October 1995, returned to work on 4 November 1995….
After management gave in to staff demands for a larger 13th month salary, the staff of the French-based Cristalleries de Baccarat, on strike since 31 October 1995, returned to work on 4 November 1995. According to a trade union source, the strike cost the company approximately FFr 1.5 million a day. Employees will be paid a 13th salary representing 70% of monthly wages (up from 60% previously). This will be increased to 100% during 1996. Cristalleries de Baccarat belongs to the Louvre-Taittinger group. In 1994, it posted a FFr 15 million deficit on turnover of FFr 347 million while in the first half of 1995, losses totalling FFr 30.66 million were reported on an interim turnover of FFr 213.24 million. The heavier losses are being blamed on an interim deficit of FFr 18.9 million at the parent company. Baccarat is hoping to announce a profit for the full year.