HSBC’s trust deficit just the start of its woes
THE RUNOFF FOR THE RICH. THE RICE GRAIN POLICY
Resources: In Vittel, Water no longer Flows from the Spring
Laurent Brun says: “the next phase is privatisation of the SNCF”
Diplomacy from Atlanticism to Gaullism, Macron Embodies all the Lines
Alternatives to uberization of labour in the making
Free Trade. The Left unite against CETA
Denis Durand: "To change the behavior of banks, we must take control of them"
A Toxic Law, Poisonous to Health
Unemployment: 84 percent of French people do not believe in the drop
Taxation: Bercy softer on the definition of tax havens than Brussels
Agreement on fishing in Brussels
ORIGINAL FRENCH ARTICLE: Orange verse des dividendes aux actionnaires supérieurs aux bénéfices
by Cécile Rousseau
Orange Pays Out Dividends to Shareholders in Excess of Profits
Translated Monday 2 March 2015, by
The telecommunications corporation said it had “reached all of its 2014 objectives” when it presented its balance for the year.
It said this whereas totals sales fell by 2.5% to 39.445 billion euros, with a net income of 1.225 billion euros, a drop of 908 million euros compared with 2013. Only the Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) remains more or less stable at 12.190 billion euros.
These results were achieved at the cost of jobs. The CGT warns of “the shedding of the equivalent of 3,509 full-time jobs in France. Between 2012 and 2018, the equivalent of 25,887 full-time jobs, i.e. one-quarter of the staff, are to go, which is unheard-of!”
Simultaneously, dividends continue to stuff the pockets of the shareholders, to the tune of 60 eurocents a share in 2014. This is too much for the CFE-CGC trade union confederation, which regrets that the company is going to “pay out nearly twice its net profit in dividends,” i.e. 1.6 billion euros.
