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Press Release No. 36/2010 Siemens Brings Forward Wage Increase

IG-Metall-Fahnen
Foto: IG Metall

10 November 2010 10 November 2010

Frankfurt am Main/Munich – Employee representatives and management at Siemens AG have agreed to bring forward the 2.7 percent wage increase by two months. In addition, employees will receive a special bonus of 1,000 euros. “Employees have actively helped overcome the crisis and made the company’s economic recovery possible. For this, they are now receiving an economic recovery bonus,” said Berthold Huber, First Chairman of IG Metall, on Wednesday in Munich. Huber called on companies in the metal and electrical industries to raise wages two months earlier in light of the rapid economic recovery.

The General Works Council of Siemens AG welcomed the company’s decision. “The outstanding business results would be unthinkable without the efforts of our colleagues. In this respect, bringing forward the wage increase is also fair. Here, management is adhering to the political agreement, which would also be desirable for other companies,” said Lothar Adler, Chairman of the General Works Council of Siemens AG.

The collective bargaining agreement reached in February of this year provides for the option, depending on the economic situation, to bring forward or postpone the agreed-upon 2.7 percent pay increase by two months. On Wednesday, the Executive Board of Siemens AG decided to pay a special bonus to its approximately 400,000 employees worldwide.