IG Metall has secured a 3.4% pay rise for 800,000 employees in Germany, as well as a one-off payment of EUR150 (US$170).

The deal, due to start from 1 April will run until 31 March next year and also includes a new collective agreement on flexible transition to retirement.

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IG Metall district leader and negotiator in Baden-Württemberg, Roman Zitzelsberger, described the agreement, secured after marathon talks ended in the early hours of this morning (24 February) as a “satisfactory compromise.”

With estimates Germany is currently undergoing deflationary pressures, the settlement may be viewed by some as relatively generous.

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