The agreement reached by the management and trade unions on March 27 provides for a 1% wage increase in 2014 and maintains jobs throughout the period. Employees are foregoing some of the company's contributions to their pension scheme for 15 months. (Ref. 130209)
Telefónica unions and management only needed a few weeks’ bargaining to reach an agreement extending the current collective agreement. Wages will go up 1% and unions accepted a freeze to employers’ contributions to employees’ pension schemes between April 2013 and June 2014.
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