This past Friday (14 October), the National Union of Metalworkers of South Africa (NUMSA) signed an above-inflation wage agreement with the Automobile Manufacturers Employers Organisation (AMEO) that will see workers in the automotive industry receive an 8.5% increase.
AMEO represents motor manufacturers such as Mercedes Benz, BMW, Nissan, Toyota and Volkswagen, while NUMSA is the country’s biggest union with over 400 000 members.
According to the deal that was signed at the National Bargaining Forum, the workers will receive the 8.5% increase in the first year followed by a 7% increase in both the second and third year of the three-year deal, which will be valid until 30 June 2025.
In addition, each employee will also receive a taxable one-off gratuity payment of R10 000.
The union said that workers could expect back pay from July to September at the end of this month.
In August, NUMSA rejected AMEO’s offer of a 6.2% increase in year one, followed by an increase of 5.6% in year two and 4.7% in year three.
In the statement NUMSA released to announce the agreement, they said that it was “significant that we have maintained the standard for the sake of workers and their families, when other unions are encouraging members to sign agreements and settle with (sic) 3%”.
Renault Group says it will change the way it accounts for its stake in its alliance partner for 20 years, Nissan, after earlier reports that the French automaker’s share price could take a hit.
It is believed that Nissan Motor has asked some suppliers to allow it to delay payments to free up short-term funds as the troubled Japanese automaker scrambles to boost cash.
Absa has taken another step towards becoming the bank of the auto industry by signing a formal collaboration agreement with the National Automobile Dealers’ Association (NADA).
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If you are not taking care of your customer, your competitor will.
Bob Hooey
Renault Group says it will change the way it accounts for its stake in its alliance partner for 20 years, Nissan, after earlier reports that the French automaker’s share price could take a hit.
It is believed that Nissan Motor has asked some suppliers to allow it to delay payments to free up short-term funds as the troubled Japanese automaker scrambles to boost cash.
Absa has taken another step towards becoming the bank of the auto industry by signing a formal collaboration agreement with the National Automobile Dealers’ Association (NADA).
