FRANKFURT (Reuters) - Volkswagen (VOWG_p.DE), Europe’s largest carmaker, said it struck a pay deal with Germany’s engineering union IG Metall for the bulk of its German workers, without disclosing the outcome.
Details of the wage agreement will be published at a press conference at 5.00 a.m. EDT in Hanover, VW added.
The union also declined to disclose the outcome of wage talks.
VW’s German staff representatives met company managers on Wednesday for a second round of in-house pay talks affecting about 100,000 workers in Europe’s biggest economy.
German workers at Volkswagen previously said they were targeting a higher pay rise than the salary increase won by the IG Metall union for about 3.6 million engineering staff.
Germany’s largest labor union agreed with employers earlier this month to raise wages in the country’s engineering sector by 4.3 percent over 13 months.
Reporting by Ludwig Burger; Editing by Mike Nesbit