VW will be offering 4.2 percent rise in payment

Posted on Tuesday, 29 September 2009 , 18:09:25 byEmil

Filed under paymoneypaymentsalarypay-risewagevwgermanyVolkswagen

VW will be offering 4.2 percent rise in payment

Volkswagen - the brand from Germany and the trade union IG Metall reached a settlement today for providing a 4.2 % pay raise of 95,000 Volkswagen AG workers from January 1, next year. The firm will be offering 2 extra bonuses: 510 Euro in the middle of October and 200 Euro at February's end, upcoming year.

Jochen Schumm - Volkswagen AG's chief negotiator said 'In difficult times we have reached an agreement that strengthens our competitiveness. Through the introduction of a performance-related remuneration component, we are progressing with the strategic further development of our remuneration systems and are taking an important step towards becoming the most attractive employer'.

'Our wage agreement is in line with the rise agreed for the metal and electrical industry. This was only achievable as part of a comprehensive package and because our demand for a performance-related remuneration component was met'.

Volkswagen unveiled additionally that the 1,250 all-new apprenticeships yearly program will get an extension up until the 2011's end and will be replaced later by brand new performance-based accommodations.

'First-class training for young people is a prerequisite for the successful future of the company and society. That is one reason in particular why we still need partial retirement arrangements. Legislative measures are called for in this context'.