US Steel agrees with unions on €40-salary hikes

Collective bargaining talks at Košice-based steel mill US Steel resulted in a preliminary agreement to introduce €40 hikes to employees' monthly salaries as of May 1, the TASR press agency reports. "Furthermore, a one-time €100 bonus will be added in December of this year, provided certain parameters are met regarding company profits," said OZ KOVO U.S. Steel Košice labour union head Juraj Varga. Discontent over salary hikes prompted unionists to declare a strike alert in April. Originally, the unionists demanded a €70 hike, whereas the employers were offering only a €20 increase on average. Varga called the salary increase by €40 a compromise, reflecting also on the deteriorating situation on the global steel market. In an open letter, EU steel producers warned this week that Europe is being inundated with steel from different regions due to the introduction of tariffs on US imports. They pointed out that thousands of jobs are at risk and urged the EU to take action.