A pay hike of 4.4 per cent has been announced for textile industry workers in Germany, according to Reuters. This was confirmed by Germany’s trade union IG Metall. Around 100,000 workers employed in textile and clothing industry in west German will get the benefit of this move.
Wages would increase 2.7 per cent by August 1, 2017 and then by a further 1.7 per cent by September 1, 2018, sated the trade union. They will also be given one-off payments worth a total of Euro320 for the months February to July 2017. For workers retiring from 2017, they will get a premium of Euro 10; andthose retiring from September 2018, the amount will be increased to Euro 535. Holiday allowance will be improved by 2.5 per cent this year and 2 per cent by 2018.
Also Read –Myanmar Government forms committee to revise minimum wages
The new wage agreement has a term of 24 months and ends on 31 January, 2019. The wage hike – agreed by the union and employers overnight – comes at a time when domestic demand has overtaken exports as the main source of growth for the German economy.
