Hochtief and IG Bau have agreed on a new collective bargaining agreement
Germany's largest construction company Hochtief and the construction trade union IG Bau have agreed on a new collective wage agreement. Both parties reached an understanding in the wage round marked by warning strikes for wage increases of 4.2 percent from next June and 3.9 percent from the following year, as announced by IG Bau on Thursday.
The collective agreement with a duration of 36 months for the approximately 2500 employees initially includes an inflation adjustment premium of 1,750 Euro in September. In January, there is then an increase in wages by 275 Euro and salaries by 255 Euro. "This is a very good result," said Nicole Simons, Vice-President of the union: "Hochtief offers its employees at German locations a decent wage and salary package." IG Bau had already closed a collective agreement for the construction industry in mid-June.
The Tariff Contract between Hochtief and IG Bau includes wage increases of 4.2% beginning in June next year, as well announced by IG Bau. This agreement also includes a wage increase of 3.9% the year after. Hochtief employees will also benefit from a wage increase of 275 Euro and a salary increase of 255 Euro in January, as part of the collective agreement.
