Cape Town - Transnet has concluded a two-year wage settlement for the first time in recent history, the parastatal said on Wednesday.
The agreement followed wage negotiations with unions Satawu and Utatu-Sarhwu and covers all employees in the bargaining unit.
“We have reached a settlement of an 8.5% across-the-board increase in basic pensionable pay for this financial year and 9% for the next year," the parastatal said in a statement.
Salary increases will be backdated to April 1 2013.
“This is a generous offer‚ which accommodates the rising cost of living for our colleagues and families‚ and is a real increase in earnings.
The company said the settlement will enable it to focus on achieving their operational goals for the year.
Transnet said it was the first time in recent history that it concluded a two-year wage settlement.
The terms of the deal were finalised on Friday May 10 2013.
- Fin24
The agreement followed wage negotiations with unions Satawu and Utatu-Sarhwu and covers all employees in the bargaining unit.
“We have reached a settlement of an 8.5% across-the-board increase in basic pensionable pay for this financial year and 9% for the next year," the parastatal said in a statement.
Salary increases will be backdated to April 1 2013.
“This is a generous offer‚ which accommodates the rising cost of living for our colleagues and families‚ and is a real increase in earnings.
The company said the settlement will enable it to focus on achieving their operational goals for the year.
Transnet said it was the first time in recent history that it concluded a two-year wage settlement.
The terms of the deal were finalised on Friday May 10 2013.
- Fin24