German utility RWE has agreed with unions to extend a collective wages agreement through to the end of 2024.
The master wage agreement includes provisions for weekly working hours, vacation entitlements and sick pay.
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RWE said it would apply to employees switching from the renewables operations of Innogy and Eon as part of the companies’ upcoming asset-swap deal.
Agreement was reached with the Mining, Chemicals and Energy Industry Labour Union and the German Service Workers Labour Union.
“We are pleased about having reached an early agreement with the social partners,” RWE chief executive Rolf Martin Schmitz (pictured) said.
“It gives the current employees and future staff members of RWE Renewables security.”