2007 Reference document (PDF) - Valeo

At December 31, 2007, 11,738 employees were members of Valeo’s
Employee Savings Plan (up 0.2% on the previous year), representing
75.3% of the total French headcount (68.6% in 2006), and a total
amount of 36 million euros split between six investment funds.
Employee stock ownership
In late 2004, the Group set up an employee shareholders plan
entitled Valeorizon, which was subscribed to by 14% of employees
in 16 of the countries in which Valeo has operations.
7. Training
Trends in training over the last three years
The overall cost of training in 2007 amounted to 24,922,581 euros,
the equivalent of 1.6% of payroll excluding social charges.
This represents a drop of 20% on 2006, largely explained by the
disposal of the Wiring Harness business, which means costs have
stabilized on a like-for-like basis.
Management Report
Social indicators
At December 31, 2007, the Valeorizon fund held 128,656 shares,
and the Valeorizon + fund held 832,046 shares.
Some 1.23% of Valeo’s capital is now held by its employees, making
them one of the Company’s main shareholder groups.
The Group plans to launch a new employee stock ownership plan
in 2008.
2005 2006 * 2007 **
Number of employees trained 52,692 56,116 44,523
Number of training hours given 1,508,698 1,696,645 1,172,356
Training costs (in euros) 31,752,527 31,249,239 24, 922,581
* Including Motors & Actuators.
** Excluding Wiring Harness (with the exception of the Porriño plant in Spain).
Breakdown of hours by type of training in 2007
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In 2007, the Group also stepped up its contribution to youth training,
taking on 1,253 interns (36.4% women) and 821 apprentices
(27.9% women). A total of 323 trainees were also taken on as
part of the international internship program (VIE), of whom 31.7%
were women.
2007 Reference document - VALEO
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