Germany's biggest industrial union said Monday it will seek a 7% pay increase for millions of workers in negotiations starting later this year, arguing that companies including automakers and machinery manufacturers are in a position to afford it.
The IG Metall union's leadership said it was recommending a hefty raise demand for 3.9 million workers in view of “a persistently high price level.” It said that companies have well-filled order books and that, even though prices are no longer accelerating as quickly as they were, one-time payments agreed in the last settlement have been eaten up by inflation.
