Montréal, June 19, 2020
COVID-19Hydro-Québec will not pay out incentive compensation for 2020
In the context of the global pandemic and its consequences in Québec, Hydro-Québec has decided to cancel incentive compensation for 2020, which is provided for under its incentive compensation policy, for executives, managers and non-unionized employees. An amount on the order of $28 million will thus be invested in the Québec economy. This measure applies in addition to the cancellation of 2020 salary increases for company management.
With respect to 2019 performance-pay for non-unionized employees, we announced on April 3, 2020, that payment would be postponed until later this year. We confirm today that amounts owning will be remitted on July 16. These amounts are part of the overall compensation of those concerned and are only paid if precise performance objectives for the previous year were met.
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