NEWSLETTER CGT AMADEUS

JUNE 2015 / N16

SPEECH TO THE GENERAL ASSEMBLY OF
AMADEUS SHAREHOLDERS
TH

MADRID, JUNE 25 2015

Each year, the general assembly of Amadeus shareholders takes place in Madrid. On Thursday 25th June
around 30 people attended. Luis Maroto made a presentation. We seized this opportunity to talk to the
Board and Top Management. Our contribution was the unique speaking of the meeting and was closely
listened to by both Luis Maroto and the chairman, Jose Antonio Tazn, who, in his answer, mentioned his
interest and requested our paper. We delivered them by hand our contribution and the results of the
Great Place to Work survey that you can consult here:
English: https://intranet.amadeus.com/sites/NCE/news-centre/Documents/Trust%20index%20results%20EN.pdf
French: https://intranet.amadeus.com/sites/NCE/news-centre/Documents/Trust%20index%20results%20FR.pdf

Good morning,
I speak here on behalf of a shareholder and French Amadeus staff representative of the CGT union. My
name is Stphane Jouteux, I am a software engineer.
In the past years, we have shared with this assembly many concerns and proposals so that Amadeus can
better invest in employees, improve our products and processes and better serve our clients. We
mentioned carrier opportunities and on-call compensations and we have seen some progress in such
areas. We believe open and constructive discussions may yield in win-win results if a fair balance can be
found between human, industrial and financial investments.
The agenda includes several items on the Shareholder, Board and Top Management remuneration:
1. The allocation of last year profit and distribution of dividends, whose amount has grown by 16 %
compared to last year and 240 % in 5 years.
2. The reduction in share capital by a share buyback of 320 M with the aim to deliver a substantial
increase in total remuneration of shareholders.
3. The raise of the remuneration of the Board members.
4. The allocation of 90 M of free shares to the associate directors and above Top Management
members.
Amadeus employees, whose professionalism, dedication and efforts should be given a fair recognition, do
not receive any free shares.
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They face cost savings and, in many areas, outsourcing of projects and internal support functions, every
day.
Why does Management prefer externalisation and acquisitions of companies instead of investing in
Amadeus employees?
Why do we have so much difficulties in recruiting, for instance, professional web designers or upskilling
motivated people?
Amadeus employees are required to be more productive, agile and sell more with equivalent or less
means and resources while, in the meantime:
We are missing budget agility to facilitate the internal mobility to better assign and coordinate
people.
The salary increases are unfairly distributed among employees, as for instance in Distribution.
Many Amadeus employees lose money, as a consequence of increased transportation costs to our
new building and Top Management refusal for social contribution compensation.
The profit sharing of the Amadeus employees in Nice is expected, once again, to decrease for pure
fiscal and financial optimisation objectives, lowering the recognition of the employees contribution.
In fact, according to the Great Place to Work survey conducted by Management and whose results have
just been disclosed, only 19 % of the Amadeus people consider that they receive a fair share of the
profit made by the company.
The huge remuneration gap between Top Management and Staff / Middle Management favours both
internal competition between individuals and incremental improvements of our products, while preventing
the real horizontality, collaborative and innovation initiatives that our company needs today to take up the
challenges ahead of us.
Why does Management prefer to incite and favour a limited number of people, instead of supporting and
encouraging all employees? Do you know that, according to the Great Place to Work survey:
only 46 % of Amadeus employees consider that we are all in this together;
60 % consider favouritism as usual practices in our company;
36 % consider that Amadeus is not a psychologically and emotionally healthy place to work?
This situation should alert our Management.
Furthermore as we face a number of major challenges:
Our business model is clearly questioned, as shown recently by Lufthansa.
Our competitors are back with very aggressive approaches, especially in our main and most
profitable markets.
Our diversification strategy is not yet mature and requires a number a major breakthrough.
We are facing strategic choices.
To our opinion, focusing on always higher margins and financial objectives not only risk to exasperate our
clients who often struggle for survival, but also risk to jeopardise our core business and efforts.
If you believe that the Amadeus people are the main and the most valuable asset of the company, then
you should promote more collaboration and therefore more equity in remuneration with appropriate salary
increases and common incentives, as free shares for all, because the employees are the engine that can
move the company towards a successful future.
Thank you for your attention.

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