German chemical employers say debt crisis to impact wage round

22 May 2012 16:59  [Source: ICIS news]

LONDON (ICIS)--The unresolved eurozone sovereign debt crisis will be one factor impacting the current 2012 wage round for 550,000 workers in Germany’s chemical industry, an employers group said on Tuesday.

The debt crisis, as well as rising energy and raw material costs, have dampened the outlook for Germany-based chemical producers, said Hans-Carsten Hansen, who leads wage negotiations on behalf of chemical employers group BAVC.

“[These factors] will need to be reflected in our wage formula for the industry,” Hansen said.

He added that BAVC would soon put forward a “substantial and realistic” proposal for a wage rise but did not disclose further details.

IG BCE, Germany’s chemical labour union, has called for a 6% increase in chemical industry wages.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
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