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IG Metall Wins 4.3% Wage Hike in Germany
Auto workers in Germany will get a 4.3% wage hike in April as part of a deal reached overnight between the powerful IG Metall union and an employer’s federation that represents carmakers.
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Auto workers in Germany will get a 4.3% wage hike in April as part of a deal reached overnight between the powerful IG Metall union and an employer’s federation that represents carmakers.
Workers also will get one-time payments of €100 ($124) during the current quarter, Reuters reports. Next year workers also will receive a €400 bonus, plus a lump payment equal to about 28% of their monthly pay.
The union had demanded a 6% increase over 12 months. But the final agreement, which amounts to a 3.5% annual pay increase, is considered relatively rich. Pundits say the 27-month-long deal, which sets a bar for other union contracts in Germany, signals several years of wage restraint.
The agreement gives workers the right to reduce their normal work week to 28 hours from the normal 35 hours for as long as two years to care for children and elderly or ill relatives. In return, employers gain the power to hire new workers who are willing to work 40 hours per week.
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