Resolution in collective disagreement overturns financial deficits
Resolution in collective disagreement overturns financial deficits
Despite the protracted wage dispute within the cash-in-hand industry, a resolution has been achieved following extensive talks. Approximately 10,000 employees will enjoy a pay boost of up to 8.43% over a two-year period, as per the Federal Association of German Cash and Value Services' announcement. This move also alleviates concerns regarding cash scarcity in Germany.
As the hustle and bustle of the end-of-year shopping season continues, ATMs in Germany can assure cash availability: In the wage dispute within the cash-in-hand industry, a breakthrough has been achieved after lengthy negotiations. For the approximately 10,000 employees in the industry, this translates into an increase of up to 8.43% over a two-year period, as confirmed by Verdi. The agreement consists of increments of 6.5% in North Rhine-Westphalia to 8.4% in the eastern German states, which Verdi labelled as reasonable.
There had been apprehensions that the prolonged wage dispute could lead to cash shortages just before Christmas. In the event of a strike, ATMs might have remained unrefilled. Verdi negotiator Sonja Austermühle stated, "We showed resilience, and it paid off." The new contract will take effect as of 2025's start.
The employer's negotiator, Hans-Jörg Hisam, noted, "Even though we've reached an agreement, we need to emphasize the substantial cost increases that will now be propagated to the companies, which will inevitably lead to economic consequences." The offer was significantly improved again.
Verdi unexpectedly resumed the wage negotiations after the members rejected the previously agreed compromise in a poll. 66.9% of those surveyed opposed the draft contract, necessitating Verdi's wage commission to comply.
During the negotiations, there were repeated warning strikes resulting in minimal disruptions to the cash supply. The companies mitigated this by stocking up the ATMs with a substantial amount of banknotes compared to usual.
The successful resolution of the wage dispute was largely credited to Verdi's negotiator, Sonja Austermühle, who stated, "We showed resilience, and it paid off." Under the new contract, which takes effect in 2025, Verdi secured an increase of up to 8.43% for its approximately 10,000 members over a two-year period.