Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

German union votes for strike at Deutsche Post, wage talks to continue

Published 09/03/2023, 13:35
Updated 09/03/2023, 14:15
© Reuters. FILE PHOTO: Workers strike, after German trade union Verdi called on workers at Frankfurt, Munich, Stuttgart, Hamburg, Dortmund, Hanover and Bremen airports to go on a 24-hour strike, in Frankfurt, Germany February 17, 2023. REUTERS/Heiko Becker
DHLn
-
DHLGY
-

BERLIN (Reuters) -Members of Germany's Verdi trade union backed an indefinite strike at Deutsche Post on Thursday but also said wage negotiations would continue on Friday.

Some 86% of union members polled had voted to reject the German postal company's current wage offer, well above the 75% threshold required for industrial action, the union said.

Deutsche Post, which owns logistics giant DHL, called on the union to enter another round of negotiating.

"This demand is being met by Verdi. Deutsche Post AG (ETR:DPWGn) now has a responsibility to avert an indefinite strike by making a significant material improvement to the rejected offer," said Verdi Vice Chairwoman Andrea Kocsis, who is leading the talks on behalf of the union.

"Strikes are ... neither in the interest of our customers nor in the interest of our employees," said Thomas Ogilvie, Deutsche Post management board member for human resources.

The company had asked Verdi to "come to an agreeable and economically viable result in the short term", he said.

Verdi is demanding a pay increase of 15% for 160,000 Deutsche Post employees over a period of 12 months.

Deutsche Post's offer was to increase the wages of all employees in two stages by a total of 4,420 euros ($4,671.06) per year, corresponding with an increase of 11.5% across all pay groups. Together with an additional 3,000 euros offered to compensate for inflation, this was the largest collective agreement offer in the history of Deutsche Post, according to the company.

© Reuters. FILE PHOTO: An employee works in the distribution centre of German postal and logistics group Deutsche Post DHL in Ottendorf-Okrilla near Dresden, Germany, December 15, 2022. REUTERS/Matthias Rietschel

Deutsche Post reported record results for 2022 on Thursday, thanks mainly to booming business abroad. However, the company warned of economic challenges in the current year due to rising prices and lagging consumer sentiment.

($1 = 0.9463 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.