German railway Deutsche Bahn reaches wage agreement with union
FRANKFURT (Reuters) - German railway Deutsche Bahn said on Saturday that it had reached a wage agreement with the EVG union following a walkout earlier this week.
Employees will get a 3.5 percent raise from July 2019 and a further 2.6 percent increase a year later. The deal also includes a bonus payment of 1,000 euros ($1,130.60).
The 29-month deal puts an immediate end to the threat of stikes for the state-owned rail company.
On Monday, German rail workers staged a four-hour stoppage that brought long-distance rail traffic to a standstill and disrupted commuter and freight trains.
The EVG union had initially demanded a 7.5 percent pay , increase for some 160,000 Deutsche Bahn employees.
($1 = 0.8845 euros)
(Reporting by Tom Sims, editing by Louise Heavens, William Maclean)
