Volkswagen AG and IG Metall union reached an agreement over a rise in pay for the company’s workers in Germany. As of September 1, 2013, base pay for employees covered by the collective bargaining agreement will increase by 3.4 percent, followed by a further rise of 2.2 percent from July 1, 2014, BusinessWeek reported .
The German automaker also agreed to make an additional contribution to company pension arrangements. For employees covered by the collective bargaining agreement, the company will make a one-time payment of €300 to the company pension scheme. For apprentices and dual-study program students, Volkswagen will pay a monthly contribution of €27.
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