German pay deal heralds end of wage restraint in Europe’s largest economy

German pay deal heralds end of wage restraint in Europe’s largest economy

A hard-fought deal on pay and working hours for industrial employees in southwestern Germany sets a benchmark for millions of workers across Europe’s largest economy and heralds wage growth in the coming years. The agreement between labour union IG Metall and the Suedwestmetall employers’ federation, struck overnight, foresees a 4.3% pay raise from April and […]