Steelworkers secure inflation-beating wage deal
The agreement will raise operational costs for steel companies in a sector that is already struggling
13 May 2024 - 15:59
UPDATED 13 May 2024 - 19:59
Employers in the steel sector have signed an above-inflation multi-term wage deal with the largest union, potentially setting a precedent for future labour agreements and raising operational costs for the embattled sector.
The National Union of Metalworkers of SA (Numsa), which speaks for the majority of workers in the Metals and Engineering Industries Bargaining Council, framed the three-year deal as “progressive”. It will secure wage increases of 7%, 6% and 6% a year over each of the three years, beating the prevailing consumer inflation rate of 5.3%...
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