Prysmian to support staff with cost of living

The payments will be made to share the value generated in 2022, which was a record year for the business.

“We are living an extraordinary moment, immediately following a time in our lives that was no less challenging because of the pandemic. It is precisely at such times that we need to make an extra effort to make stronger and more concrete the feeling of being part of a big family,” said Valerio Battista, group CEO of Prysmian.

“2022 will go down in history for the group’s record results, and in this way, we aim to share with the entire organisation the great value generated.”

Company support

Alongside specific initiatives for each country in which it operates, the company has also launched a global innovative share incentive plan, called BE IN. The aim is to share the value created with all people working in the group, not just a few.

The plan, which will run over the three-year period 2022-2023-2024, has already been shared with local trade union representatives in many of the countries where Prysmian Group operates, including Italy, France, Germany, Estonia, Romania, Scandinavia, New Zealand, Thailand and Poland.

BE IN complements the YES Plan launched in 2013, which allows Prysmian employees to buy shares in the company on favourable terms. Currently, Prysmian employees, including top management, hold about 3% of the company’s capital, a significant percentage in a public company with no majority shareholders able to exercise control.

The company has been noted for its strong support to employees during the pandemic.

In May 2020, with a focus on sustainability, Prysmian offered a contribution for the purchase of an E-bike to all employees who were preparing to return to the office after the lock-down, with more than 400 employees at the Milan headquarters signing up.

Then in May 2022, the company introduced an extensive nationwide petrol voucher scheme – an initiative accepted by 90% of the 2,300 employees in Italy.