35
2016 ANNUAL REPORT
On June 22
nd
, 2016, management
and union representatives reached
an agreement and negotiations came
to a close. It is worth noting that, for
the first time in history, the Collective
Labor Agreement negotiations involved
a downsize of union benefits in favor
of RECOPE. The Collective Labor
Agreement defines the employer-
employee
relationship
and
the
employment benefits for the period of
2016-2019. Moreover, it is estimated
that, due to the favorable outcome of the
negotiations, the agreement will result in
savings of about $9,236,455.
In addition, the subsidy provided to the
Fund by the company will be gradually
reduced over a period of 7 years, at a
rate of 10% per annum, until it reaches
zero. This will result in savings of
about $2,285,327 across the Collective
Labor Agreement’s entire term, and of
approximately $2,856,201 per year,
once the subsidy is reduced to zero.
Interpersonal Relationships and
Collective Labor Agreements
