SOUTH African state-owned logistics firm Transnet said on Monday it had agreed a three-year wage deal with the union representing the majority of its workers, ending a two-week strike that had hit commodities exports and piled up millions in losses.
“Transnet and the company’s majority union United Transport and Allied Trade Union (UNTU) reached a three-year wage agreement today,” it said in a statement, adding the deal would bring most of its employees back to work.
UNTU members, who represent more than half of the company’s workforce, went on strike on Oct.6, demanding an increase linked to South Africa’s year-on-year inflation rate, which was 7.6% in August.
Transnet said it had agreed on a 6% wage increase for the current financial year, a 5.5% raise next year and a further 6% boost in 2024. The deal is effective from April 2022, it said.
“The company’s priority in the immediate is
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.
Subscribe nowNeed help? molokom@insidepolitic.co.za
