Volkswagen AG finalized a new wage agreement with the IG Metall labor union today in Germany. The agreement constitutes a 4.2% wage raise, beginning January 1, 2010. Workers will additionally receive two bonuses: approximately $500 in October 2009, and about $200 more in February 2010. The agreement also includes provisions for the creation of a performance-based wage scale, which will be introduced in January 2011. Exact terms for the 2011 performance wage scale have not yet been determined, but are expected within the next few days. VW, which has largely weathered the economic crisis fairly well, has a history of good relations with IG Metall, representatives from which sit on the supervisory board. Both sides have expressed satisfaction with the wage agreement.
See "VW finalizes wage talks with IG Metall labor union", Christoph Rauwald, The Wall Street Journal, September 27, 2009