The automotive brand Volkswagen, from the group with the same name, and the German metal sector union IG Metall, have agreed to a 4.3% salary increase in the new collective agreement of the company.

The Volkswagen brand informed today that last night they reached an agreement in the negotiations of the new agreement for 120,000 employees in Germany.

The agreement provides for a 4.3% wage increase from May 1, 2018 and a single payment of 100 euros for the months from February to April.

As of August 2019, workers covered by the agreement will receive an annual payment corresponding to 27.5% of their monthly salary.

As of July 2019, Volkswagen will pay 90 euros monthly to the company’s pension plan and from January 2020, 98 euros.

EFE – Frankfurt (Germany) -THE DIARY – 02/21/2018 (Translation Soft)