Deutsche Post Reaches Collective-Bargaining Agreement With Verdi Union

   By Marc Bisbal Arias

Deutsche Post AG (DPW.XE) said Tuesday that it has reached a collective-bargaining agreement with members from German trade union Verdi.

The agreement will see about 130,000 Deutsche Post employees receive a pay rise in 2018. Around 60,000 workers will also be able to convert variable pay into fixed salary as of March 1, 2018, the company said.

Additionally, employees paid according to collective-bargaining agreements will benefit from a one-time payment of 250 euros ($309.10) this year, the company said.

"As of October 1, 2018, wages and salaries will rise 3%, and a further 2.1% one year later on October 1, 2019," Deutsche Post said.

Once implemented the agreement will run until May 31, 2020.

Deutsche Post said that employees will be able to choose between the salary increase or the equivalent amount of free time.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

April 10, 2018 08:59 ET (12:59 GMT)

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