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March 29, 2017

Hyundai Czech workers getting large pay rise

'Cheap' Czech Republic labour is to get a big pay rise at Hyundai Motor's car factory.

'Cheap' Czech Republic labour is to get a big pay rise at Hyundai Motor's car factory.

Workers assembling Tuscon, Elantra and ix20 at Nošovice will get an 12% pay rise this year, local management told Reuters which noted this was the latest big increase at a major manufacturer in Europe's tightest labour market.

According to the report, citing Eurostat, Czech Republic unemployment of 3.4% is the lowest in the European Union and many companies have complained a labour shortage is pushing up pay.

Hyundai workers will get a 4.56% base pay increase this year and 4.66% next year while bonuses will account for the rest of the pay hike, Reuters said. In the previous collective agreement, wages rose an average 8%, including bonuses.

Hyundai's plant is one of three in the country.

The others are are a Toyota/PSA group small car building joint venture and Volkswagen's Skoda Auto, the country's largest exporter.

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