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VW to Boost Wages 5.7% in Germany
Volkswagen AG has agreed with its union to hike wages of its hourly workers in Germany by 5.7% in two steps over 20 months.
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Volkswagen AG has agreed with its union to hike wages of its hourly workers in Germany by 5.7% in two steps over 20 months.
The accord also includes a €300 one-time contribution to each employee's pension plan. The contract covers 102,000 workers at six plants and VW's financial services arm.
The increase is in line with the pay increase that the IG Metall union negotiated for workers in the state of Bavaria earlier this month. That pact is used as a pattern for negotiations elsewhere in Germany.
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