Tesco management, unions agree on 10% pay rise
The management of the local unit of UK supermarket chain Tesco has agreed with unions on an average 10% rise in base pay, Tesco-Global Áruházak and unions KASZ and Egyenlo.hu said on Thursday.
Under the agreement, Tesco's lowest gross monthly salary will rise from HUF 250,000 to HUF 260,000 from January 1, and to HUF 275,000 from March 1. From March 1, employees at Tesco stores and warehouses can earn up to a gross monthly HUF 374,000, including benefits and overtime.
Tesco will spend HUF 3.4 billion on the additional payroll costs this year.
The company employs about 11,000 people in Hungary.
Tesco-Global Áruházak's payroll costs came to HUF 42 bln in its business year ended February 28, public records show.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.