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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: French workers hold managers at Caterpillar AFP - Wednesday, April 1 GRENOBLE, France (AFP) - - Angry workers on Tuesday detained five managers at a plant run by US firm Caterpillar to protest plans to slash hundreds of jobs, in France's latest case of "bossnapping". ADVERTISEMENT Employees barricaded their bosses in an office to demand new negotiations on 733 layoffs at the factory in the southern city of Grenoble. In Paris, one of France's richest men, Francois-Henri Pinault, was besieged by angry employees as he left a meeting in a taxi, prompting police to intervene to help the retail tycoon after a one-hour standoff, union officials said. Caterpillar factory director Nicolas Polutnik was being held along with the human resources director, the head of personnel and two managers while some 500 employees gathered outside the building. Human resources director Maurice Petit, who suffers from heart problems was allowed to leave in the early evening. It was the third time in March that executives had been held by French workers outraged at job losses sparked by the global economic crisis. A manager of a factory run by US pharmaceutical giant 3M was held for more than 24 hours last week and the boss of Sony France was detained overnight on March 12 by workers seeking better redundancy packages. In those instances, police did not intervene to free the managers who were released unharmed and no charges have been laid against the workers. "We are holding them in the director's office," union official Benoit Nicolas told AFP. "They are a little stunned." During mid-afternoon, union officials escorted journalists into the offices where the managers were being held while police officers took up positions at the entrance of the plant. Polutnik defended the layoff plan as the only way to save the company and said he was unable to re-open negotiations while being held captive. "We do not have the freedom of movement that would allow us to give negotiations a chance," he said as employees listening nearby booed. Workers were demanding a minimum of 30,000 euros (39,000 dollars) in severance pay, much more than the 10,000 euros that Caterpillar was offering as minimum compensation. Union representative Alexis Mazza said the five were told they will "stay here and sleep here" after a first round of talks hit an impasse. "They don't want to renegotiate, they say they are up against the wall, that they have no money and that the company is in jeopardy," said Mazza. Caterpillar workers were on strike for a second day on Tuesday at two plants that produce construction equipment engines in the Grenoble region. Management announced plans to cut 733 jobs out of 2,800 at the two plants on February 17. In the central French town of Chatellerault, thousands of protesters tried to march to an exhibition centre where President Nicolas Sarkozy was to chair a round table on his government's response to the economic crisis. Police fired tear gas after the protesters, prevented from reaching the venue, pelted them with eggs. France has also seen strikes and protests over big bonuses paid to managers, as the crisis sent the number of French jobless shooting up monthly to reach 2.4 million. The government this week issued a decree banning stock options and curbing executive bonuses at companies that take state aid, after a public outcry over payoffs to bosses. The government has not spoken out strongly against "bossnapping", but families minister Nadine Morano has said such radical tactics were not the answer to job losses. "I think that it's not at all the proper solution," Morano said, but added: "I can understand that there are moments of despair." Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Enlarge Photo Angry French workers on Tuesday besieged retail tycoon Francois-Henri Pinault, pictured in 2008, in a Paris taxi, prompting police to intervene, union officials said. Most Popular – Top Stories Viewed 100,000 secular Britons seek 'de-baptism' Obama offers tough love to US car giants Prince William up for Afghanistan fight: report Hot tea linked with throat cancer World auto shake-up leaves investors reeling View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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