German unions, employers agree 4.8% wage hike for metalworking sector
[FRANKFURT] Unions and employers in Germany's powerful metalworking and engineering industries have reached agreement on a 4.8 per cent pay hike for the 3.8 million workers in the sector, the mighty IG Metall union said on Friday.
In a so-called pilot agreement for the regional state of North Rhine-Westphalia, that would serve as a benchmark for the rest of the country, workers would receive a one-off payment of 150 euros (S$234) for the period from April to June 2016. They would then see their pay rise by 2.8 per cent on July 1 and again by 2 per cent in April 2017, IG Metall said in a statement.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall
Inflation in Japan’s capital falls below BOJ target, slows for second month
China firms are investing abroad at fastest pace in eight years