In the ninth round of negotiations, the trade union GPA and the trade association UBIT (management consultancy, accounting and information technology) were able to agree on a collective agreement for the 90,000 employees in the IT industry.
Gross minimum wages will increase by 7.8 percent in 2024, the actual salary level by 7.25 percent, with a minimum amount of 175 euros. The agreement applies retroactively to the beginning of the year.
An increase in the actual salary amount by 0.65 percent and the minimum salary by 0.15 percent above annual inflation has been agreed for 2025.
The basis for the negotiations was last year’s average annual inflation of 7.8 percent.
Both employers and employees spoke on Friday after the exceptionally long negotiations about a “sustainable compromise under very difficult circumstances”.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
