While conditions in Austria’s metalworking sector are not yet critical, the industry is facing a trend of job losses, declining orders and stagnation. In response to the crisis, the social partners agreed in just a few hours on a two-year agreement with two increases of between 1.41% and 2.1% and a 'purchasing power bonus' that can be converted into days off.
Two years ago, the social partners in the Austrian metalworking industry needed eight meetings and a day of strike action to reach a collective agreement for the sector. This year, however, the negotiations were concluded in just a few hours on 22 September.
A crisis agreement
This change of pace can be explained by the crisis currently affecting the Austrian economy, which is experiencing its longest economic recession in around 80 years, with GDP falling for three consecutive years (-1.0%...
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Article authors
Thomas Schnee
Freelance