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Tesco management, unions agree on 10% pay rise

Retail

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.

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