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Germany’s IG Metall union says agrees wage deal for key industries

Published by Uma Rajagopal

Posted on November 12, 2024

Featured image for article about Top Stories

By Alexander Hübner

MUNICH (Reuters) -Germany’s largest industrial union said it had struck a wage deal in regional talks for the electrical engineering and metal industries on Tuesday, signalling an end to difficult negotiations that saw tens of thousands of workers go on strike.

After a marathon 18 hours of talks, the union said it would announce details of the deal at a news conference at 0930 GMT.

The deal comes at a difficult time for Europe’s biggest economy, which is engulfed by a government crisis and has seen some of its biggest industrial icons ask for painful cuts to stay competitive in the face of rising competition.

IG Metall had sought a pay rise of 7% while employers had offered a 3.6% hike over a period of 27 months. In the previous round, the sides agreed a 8.5% wage increase.

The agreement comes a week ahead of a third negotiation round over wages and plant closures at Volkswagen, which has asked workers at its namesake brand to take a 10% pay cut, arguing labour costs are way too high.

Negotiators for the IG Metall trade union’s coastal and Bavarian districts had met employers’ associations. Usually, the union’s executive board recommends that all districts adopt the pilot agreement for the 3.9 million workers in key sectors covered by the talks.

(Reporting by Alexander HuebnerWriting by Madeline Chambers and Miranda MurrayEditing by Friederike Heine)