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The Fenaco cooperative will increase its total wage bill by “just over 2 percent” at the beginning of 2024. According to the statement made by the company, there will be a general wage increase of 1.2 percent and monthly wages will be increased by at least 60 francs. The rest is aimed at “individual and structural arrangements”.
According to its own information, 11,500 people work at Fenaco.
The Unia and Syna unions welcome the overall wage increase, which amounts to a “paradigm shift”, but at the same time they declare that the wage negotiations have failed: “Given the huge need for compensation in recent years, Fenaco’s offer is inadequate and not enough to increase the purchasing power received by employees .” Therefore, unions and personnel commissions reject the result after consulting employees.
Cost of living adjustment guaranteed, according to Fenaco
Fenaco has a different perspective. While wages gradually increased by a total of 10.5 percent in the last 10 years, inflation was 6.0 percent in the same period. Due to current forecasts, inflation compensation is guaranteed with the 2024 salary round.
But employees of Fenaco companies, including retailers Landi and Volg, oil company Agrola, drinks producer Provins and Ramseier, transport company Traveco and other companies, are said to be of the opinion that they have lost their purchasing power. Unia and Syna are calling on Fenaco to invest more resources in combating losses in purchasing power. “With equity capital of more than two billion francs, the company has a solid financial basis,” the unions write.
Fenaco broke a new record with sales of 8.06 billion francs in 2022. Revenue (EBIT) amounted to 138.4 million francs.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
