Volkswagen avoided an employee strike
2022.11.22 23:32
Volkswagen avoided an employee strike
Budrigannews.com – Budrigannews was informed by a person familiar with the discussions that Volkswagen’s western German factories adhered closely to an earlier agreement for the country’s larger metal engineering industry. Volkswagen and the metalworking union IG Metall reached a wage agreement (ETR:).
A source said on Wednesday that the two-year agreement will give workers a lump sum payment of 3,093 euros after taxes and two steps of an 8.5% wage increase.
The union said in a statement on Wednesday that they had reached a wage agreement with Volkswagen and that a news conference would be held at 8:00 a.m. GMT in the northern city of Hanover.
Around 125,000 VW workers at six German plants and subsidiaries, including Financial Services, were subjected to a 8% wage increase in July by the largest German labor union, IG Metall.
In a separate agreement this month, IG Metall agreed to a pay increase below inflation in a sign that wage pressures in the entire euro zone are manageable.For 3.9 million workers in Germany’s metal and electrical industries, this agreement set the standard.
In accordance with the agreement that was in place with employers at the time, workers’ pay will increase by 5.2% beginning in June 2023 and 3.3% beginning in May 2024.Additionally, a tax-free lump sum of 3,000 euros will be distributed in March 2023 and March 2024.
($1 = 1.03 euros)
