PARIS – On Monday, France’s CFDT trade union said it could join an ongoing strike by the CGT union at ExxonMobil’s Port Jerome refinery as talks with the company near a deadline.
So far, the strike action has been limited to chemical workers after Exxon Mobil (NYSE: XOM) said it would shut down its steam cracker and close chemical production at the site this year.
Exxon has two refineries in France that account for about 30% of the country’s capacity. A spokesperson said the strikes have not impacted its refining, despite a blockade in late June.
The closures at the facility will mean 608 employees losing their jobs from 2025, the Exxon spokesperson told Reuters.
The end of the information and consultation period for the workforce support package is September 20, so Exxon Mobil (NYSE: XOM) and the unions need to reach an agreement by the end of the week, they added.
In a statement, CFDT, one of France’s largest unions, expressed concern that the proposed changes would significantly degrade working conditions.
“The CFDT currently does not rule out any action, including legal action, to defend the interests of all employees, but prefers to return to the negotiating table,” it said.
The CFDT took part in strikes last year at French refineries over President Emmanuel Macron’s pension reforms, which saw disruptions to fuel supplies across the country.
(Source: Reuters)
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
