Volkswagen Agrees on Pay Deal With IG Metall Union to Ease Inflation
23 Novembro 2022 - 5:07AM
Dow Jones News
By Ed Frankl
Volkswagen AG on Wednesday agreed to a new pay deal with
Germany's largest labor union to alleviate soaring inflation in the
country, including a bonus of 3,000 euros ($3,092).
The car maker agreed to a collective bargaining agreement with
Germany's IG Metall union covering 125,000 employees, which will
increase pay in two stages, by 5.2% in June 2023 and 3.3% in May
2024.
The agreement also includes an inflation-adjusted, tax-free
bonus of EUR2,000 in the first quarter of 2023, and EUR1,000 in
early 2024, the company said.
"The collective bargaining agreement mustn't hide the fact that
we must continue to keep our costs strictly under control," Arne
Meiswinkel, Volkswagen Passenger Cars' board member for human
resources, said.
Germany's consumer-price index rose 10.4% in October, according
to Germany's statistics office.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
November 23, 2022 02:52 ET (07:52 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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