German public sector workers clinch 5.5 percent pay rise

AFP :
German public sector workers have won a 5.5 percent pay increase to help offset inflation following late-night talks on Saturday, easing the prospect of further strikes.
Employers and unions have reached a “good and fair wage agreement”, Interior Minister Nancy Faeser said in a statement.
The deal comes after several weeks of stalemate and repeated strikes among postal, transport and health workers demanding more money to cope with the rising cost of living.
Under the agreement, some 2.5 million public sector workers will see their wages increase by 5.5 percent or at least 340 euros ($377) per month from March 2024.
From June 2023, a tax-free inflation compensation payment of 3,000 euros is to be paid in several instalments.
“With our decision to enter into this compromise, we have gone to the limits of our tolerance,” said Frank Werneke, head of the Verdi union.
Verdi had demanded a 10.5 percent increase in monthly salaries or at least 500 euros per month.