Philip Morris International, trade unions agree to social plan for 1,230 employees who will lose their jobs following imminent closure of Netherlands factory; agreement involves training, work-to-work programs, severance pay

NETHERLANDS , June 9, 2014 () – Trade unions and the management at the Dutch cigarette factory of US Philip Morris (NYSE:PM; EPA:PM) in Bergen op Zoom have agreed to a social plan for the 1,230 employees who will lose their jobs following an imminent closure, the tobacco company said Saturday.

The agreement follows resumed negotiations between the parties on Friday after three days of continuous strikes. The unions will present the plans to their members this week.

The agreement involves training and work-to-work programmes and employees will receive a severance pay, among others.

Philip Morris announced plans in early April to close its factory in Bergen op Zoom on October 1 at the latest. The unions called for a good social plan for the staff, but the local management did not respond to their demands. This triggered repeated walk-outs aimed at pushing the company to come up with a better social plan.

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