Volkswagen inks deal with IG Metall on 4.3% pay hike of German workers

Article by Anita Panait, on June 1, 2012

Volkswagen has signed an agreement with the IG Metall union to increase the wages of its German employees by 4.3 percent over 13 months. The wage agreement between the company and the union takes effect June 1, 2012, and affects 97,000 VW production workers and 5,000 employees at VW financial services unit, according to a statement released by the carmaker.

The pay agreement also provides for the hiring of 3,000 temporary workers and taking on an additional 175 trainees annually. Hartmut Meine, chief negotiator for IG Metall, described the deal as a very good and acceptable compromise.

The new pay agreement, which was reached after all-night negotiations, echoes a salary agreement inked between IG Metall and employers on May 19, 2012 for around 3.6 million engineering workers across Germany.

The deal for engineering workers affects all companies including Daimler and BMW. Martin Rosik, chief negotiator for VW, said the size of the pay increase will not reduce pressure on VW, which is facing some serious effects caused by slackening European economies as well as volatile financial markets.

Topics: vw

If you liked the article, share on:

Comments

Recommended

The new 2018 Ford Mustang GT, when equipped with its optional Performance package, will be able to produce 460 horsepower. It also comes fitted with Michelin Pilot Sport 4S tires...
by - October 19, 2017
It’s not as if the Porsche 718 Boxster and Cayman are not already impressive cars. The automaker has just given us more reasons to love the twins. The 2018 model...
by - October 19, 2017
After months of dropping online teasers, Polestar finally reveals its very first production car virtually. The Polestar 1 is a two-door coupe that gets its design inspiration from the 2013...
by - October 19, 2017
While the official premiere of 2018 Jeep Wrangler (JL/JLU) is already set this December, fans everywhere rejoiced at having had something like this appear on the web. Yes, everything we...
by - October 19, 2017
South Korean carmaker Kia will try to follow up the success of its Sportage compact sports utility vehicle by introducing a smaller SUV (subcompact) in the United Kingdom in the...
by - October 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries