German Firms, Unions Reach Deal

Trade unions and employees in Germany’s chemical industry have agreed to a 3.6% pay hike for 14 months. The deal covers about 550,000 employees working for German chemical companies including BASF and Bayer. The IG BCE labor union, which represents German mining, chemical, and energy industrial workers, negotiated for a 4.5% pay raise, while employers wanted a 2.7% increase, reports...

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