Mapfre will pay its employees a new extra payment of 400 euros to face inflation

• Prices Inflation moderated to 7.3% year-on-year in October but food rose 15.8%

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Mapfre will pay its more than 10,000 employees in Spain (excluding the management team) a new pay of 400 euros, coinciding with the

, to deal with the current scenario of high inflation, as announced on Wednesday.

The company

.

Both extraordinary actions "seek to offset the high inflation rates that are being recorded, but without altering full compliance with the collective agreement and complying with all the recommendations not to contribute to the inflationary cycle," Mapfre reported.

The president of the company, Antonio Huertas, has pointed out that, although Mapfre is a "responsible with the current situation" company, this will not prevent it from attending, "to the extent possible", the exceptional needs that may be dealing with their employees.

After this second extraordinary payment, and added to the improvements of the recently signed agreement,

Mapfre's comprehensive compensation plan is designed on four pillars: fixed remuneration, annual variable remuneration according to objectives, a package of social benefits and compensation.

The new extraordinary pay is added to the measures agreed in the collective agreement, where

and access to savings insurance is improved.

The benefits also complement others such as the employment pension plan, where Mapfre contributes two euros for each one saved by the employee, school aid, life insurance and insurance bonuses.

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