WOLFSBURG (dpa-AFX) - German industrial union IG Metal will negotiate a pay rise of 7 percent over a 12-month period from Volkswagen AG (VWAGY.PK).
According to Reuters, the discussion that might start in October will benefit around 120,000 workers across the auto maker's company sites in Lower Saxony and Saxony Anhalt states.
Earlier, the union urged its members to demand a 7 percent raise from mechanical engineering sector, excluding Volkswagen.
Currently, Volkswagen's stock is moving down 0.58 percent, to $12.04 on the OTC Markets.
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