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Spain's Unions agree on wage limitations until 2014
Spanish workers unions, led by Ignacio Fernandez Toxo from the CCOO, and Candido Mendez from the UGT, have met with the Chairmen of the CEOE and CEPYME Employers associations, to find a new agreement on collective work contracts and wage limitations which will last until the end of 2014.
A common agreement has been signed between all parties, which allows a limitation on wages as many small and medium sized business are expected to struggle in the coming year, as the national economy faces a slide back into recession.
The agreement is centered around a maximum wage rise of 0.5% being applied to employees salaries in 2012, rising to 0.6% in both 2013 and 2014, but only in the event of official inflation estimations being expected to rise beyond 2.0%.
An even higher increase has not been ruled out for 2014, providing that the economy of the country improves sufficiently in 2013.
Latest News & Stories
- Facebook and Microsoft to install “megacable” between Spain and US
- Vodafone Spain to start offering Telefonica indirect fibre
- Spain arrests 30 suspected of laundering money in bitcoin centres
- Passenger flight dodges three drones before landing in Bilbao
- Almost 30% of Spaniards at risk of poverty or social exclusion
- Spain tops euro zone for political risk to the economy, says ECB
- 30 arrests in Spain for pay-TV piracy
- Spain's centre-right PP to strengthen position in election - poll
- Popular Party faces freeze on assets if it fails to pay €1.2m civil bond
- Claiming Sickness Benefit as an Autonomo - Self Employed worker
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