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German railway Deutsche Bahn reaches wage agreement with union

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Reuters FRANKFURT

FRANKFURT (Reuters) - German railway Deutsche Bahn said on Saturday that it had reached a wage agreement with the EVG union following a walkout earlier this week.

Employees will get a 3.5 percent raise from July 2019 and a further 2.6 percent increase a year later. The deal also includes a bonus payment of 1,000 euros ($1,130.60).

The 29-month deal puts an immediate end to the threat of stikes for the state-owned rail company.

On Monday, German rail workers staged a four-hour stoppage that brought long-distance rail traffic to a standstill and disrupted commuter and freight trains.

The EVG union had initially demanded a 7.5 percent pay , increase for some 160,000 Deutsche Bahn employees.

 

($1 = 0.8845 euros)

(Reporting by Tom Sims, editing by Louise Heavens, William Maclean)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Dec 15 2018 | 5:34 PM IST

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