Volkswagen, Union Agree on Wage Increase, Bonus for 120,000 Employees
By Cecilia Butini
Volkswagen AG said Tuesday that it has come to an agreement with
trade union IG Metall on a package including a wage increase and
bonus for about 120,000 of its employees.
The package, which is meant to give more certainty during the
coronavirus pandemic, is expected to run until the end of November
2022. It includes a 2.3% wage increase starting from January 2022
and a 1,000-euro ($1,191) bonus which will be paid out
retroactively for the period starting March 2020.
The company will also provide employees with an additional
monthly pension payment of EUR150 and will continue 1,400
apprenticeships until 2025, it said.
The agreement is valid for employees at plants in Wolfsburg,
Braunschweig, Hannover, Salzgitter, Emden, Kassel, as well as for
Volkswagen Financial Services AG, the company said.
Write to Cecilia Butini at firstname.lastname@example.org
(END) Dow Jones Newswires
April 13, 2021 04:13 ET (08:13 GMT)
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