Coop increases wage sum by 2.2 percent
Published: Monday, Oct 30th 2023, 08:50
Updated At: Tuesday, Oct 31st 2023, 00:53
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Coop employees will receive a pay raise in the coming year. Lower salaries in particular are set to be increased. Overall, the retail giant will raise the total wage sum by 2.2 percent in 2024.
Coop announced on Monday that existing employees earning up to 4800 francs will receive a salary increase of at least 3 percent. The minimum wage for new Coop employees will also increase by 100 francs or 2.4 percent to 4200 francs per month in the next year. This will strengthen lower wages and offset inflation.
Coop has announced an increase in wages for its employees. Wages above the announced level will be adjusted individually. Additionally, all Coop employees will receive a shopping voucher of up to 500 Swiss Francs, depending on their workload. The exchange with the social partners has been constructive.
Higher wages for apprentices.
From August 2024, Coop will increase wages for its apprentices. In the first year of apprenticeship, wages will increase by 100 Swiss Francs to 1000 Francs, in the second year to 1200 Francs, in the third year to 1400 Francs and in the fourth year to 1600 Francs. Coop annually employs more than 1000 apprentices, according to the company.
Over the past ten years, Coop has increased wages by 9.5 percent according to their announcement. Additionally, the cooperative is covering two thirds of the pension fund contributions.
Coop, the second largest retailer in Switzerland, has presented the results of the wage round for 2024. Employees of Migros will also receive higher wages in the coming year. The total wage will be increased by 2.1 to 2.5 percent across the group, as Migros announced in September.
Aldi Switzerland has not yet announced the results of the negotiations. Lidl conducts its annual wage round in March each year.
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