Solvay Modifies Care Program

The Solvay Cares program announced in December two major changes that will allow workers greater flexibility in taking parental leave and make it easier for them to buy stock in the company.

The company previously required workers with new children to take their 16-week leave uninterrupted, but issues with administering the benefit prompted changes, which went into effect Dec. 2, 2021.

“Taking someone out of the plant for 16 weeks can be significant,” said Jeff Hill, a USW Local 14200 member in Marietta, Ohio, and the North American representative on the Solvay Global Forum. The forum has eight union and three management representatives, and is responsible for communicating Solvay’s policies and programs to its sites around the world.

“We had some engineers who had projects going on at our site, and they took off a couple of weeks and wanted to return for two weeks. But, once you returned, you forfeited your time,” Hill said.

“Solvay CEO llham Kadri worked with the forum to modify the plan, and now you can break up your maternity or paternity leave as long as it does not disrupt the workplace,” he said.

Solvay employees who adopt a child can also use the 16-week leave for the entire period or in time chunks.

“Overall, everyone believes it’s a good program,” Hill said. “We’re getting younger people, so we’re seeing use of the leave at the Marietta site.”

Stock Purchase Plan

Solvay also announced that it is creating a program that will enable workers to more easily purchase its stock.

Hill said the forum signed a letter of intent with Solvay, and the company hopes to roll out the program later this year.

He said there are a lot of details to work out with different countries on how to buy the company’s stock. Once the program is enacted, employees can buy Solvay shares at a 10 percent discount rate. The company will set the minimum and maximum amounts of stock that can be purchased.

At the end of each financial quarter, Solvay will give one free share for every three shares purchased as long as the employee holds onto the investment for two years.

“This has potential,” Hill said. “If someone puts money into it, it can turn into a good, solid investment for those rates and the free shares.

“The Solvay Global Forum is getting the word out about this program now so that employees can watch out for it later this year,” he added.

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