Germany: German Union Workers “Verdi” agree to 6.3 wage increase that will take place over next 24 months

In news out of Germany today, it appears that all sides involved in the ongoing saga of work stoppages and warning strikes have agreed to a new labor deal that satisfies both sides. Workers who are members of the German Union “Verdi” (Vereinte Dienstleistungsgewerkschaft) agreed to a 6.3% wage increase that will take place over the next 24 months retroactive to March 1, 2012. Originally the 2 million member strong union had demanded a 6.5% increase over the next 12 months. Read article