The partners of the eight cooperatives that make up the Fagor Group have rejected the proposal for their extra payment for this year end raised by the Board. Due to the situation of economic crisis and the effects on the activity of their companies, according to informed sources.
The same sources explained that a total of 3,200 partners voted against the initiative, that had been approved by the Social Council of the group, 59.4% voted against accepting the deal, 3,200 votes (40.6%).
After this ballot, it is estimated that the proposal had a supposed a saving of around six million Euros. In principle, that money, approximately a 75%, was going to go to balance the accounts of results of all the cooperatives. Rest, 25%, was going away to direct to a solidarity bottom to help to the companies with major difficulties.
The Fagor Group is made up of the Fagor cooperatives Electric home appliances, Fagor Ederlan, Copreci, Electronic Fagor, Fagor Arrasate, Industrial Fagor, Mondragon Assembly and Fagor Automation.