German carmaker Volkswagen's Slovak unit and the KOVO metal-working union at the factory in Bratislava have concluded collective bargaining for 2010 by reaching an agreement to increase employees' salaries by 3 percent with effect from May 1, 2010, the company's spokesperson said on March 22. In addition, each employee will be paid €215 in a settlement for April. The new salary rates will be effective until March 31, 2011.
Volkswagen Slovakia ended 2009 with a net profit of €57 million, chairman Andreas Tostmann told the TASR newswire the same day. The total revenues of the car plant reached €2.94 billion in 2009. According to Tostmann, the factory produced over 105,000 vehicles, of which 80 percent were SUVs.
Source: TASR
Compiled by Zuzana Vilikovská from press reports
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