German carmaker Volkswagen and the powerful IG Metall labour union announced on Tuesday they have reached a wage deal, giving 102,000 VW workers in Germany a two-step wage increase over the next 20 months. Employees at sites in Wolfsburg, Brunswick, Hanover, Salzgitter, Emden and Kassel will receive a 3.4-percent pay increase from September 1, followed by a further 2.2 percent from July 1, 2014, the carmaker and union said in separate statements. IG Metall had demanded a 5.5-percent pay increase for a 12-month period. The deal is based on a much wider industry-wide agreement reached earlier this month giving 3.7 million employees in Germany's metalworking sector a 3.4-percent pay hike on July 1 followed by a 2.2-percent rise in May 2014. VW has negotiated its own separate wage agreement with unions for a number of years now for its sites in western Germany. Under the terms of VW's deal, the carmaker will also make a one-off payment of 300 euros ($388) for each employee into the company's pension scheme. Volkswagen employs around 550,000 people worldwide and booked record profits of 21.7 billion euros in 2012.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor