Workers in steel sector to benefit from 7% wage increase

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
(iStock)
(iStock)

Johannesburg – Following four months of negotiations, union members working in the steel industry will benefit from a 7% wage increase.

The settlement agreement was signed on Wednesday by unions Solidarity and the National Union of Metalworkers of South Africa (Numsa), among others, and the federation of employers, the Steel and Engineering Industries Federation of South Africa (Seifsa).

The increase covers all hours worked and related allowances. The agreement comes into effect from July 1 2017 and June 30 2018. An increase of 6.75% will come into effect for the following period and a 6.5% increase is agreed to for the period between July 2019 and June 2020.

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.45
+0.8%
Rand - Pound
19.96
+0.6%
Rand - Euro
16.82
+0.7%
Rand - Aus dollar
10.85
+0.3%
Rand - Yen
0.13
+0.8%
Gold
1,781.92
+0.7%
Silver
24.31
+2.7%
Palladium
2,073.50
-1.4%
Platinum
1,054.00
+1.1%
Brent Crude
85.08
+0.9%
Top 40
60,348
+0.3%
All Share
66,895
+0.2%
Resource 10
63,203
-0.1%
Industrial 25
85,486
+0.6%
Financial 15
14,008
-0.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Facebook is facing a fresh crisis after a former employee turned whistle-blower leaked internal company research . Do you still use Facebook?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, the benefits outweigh the risk for me
23% - 159 votes
No, I have deleted it
47% - 329 votes
Yes, but I am considering deleting it
30% - 206 votes
Vote