🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Spanish shopworkers' unions to discuss wages with Zara bosses

Published 11/16/2022, 11:07 AM
Updated 11/16/2022, 03:45 PM
© Reuters. FILE PHOTO: A shopper carries a bag from Zara clothes store, part of the Spanish Inditex group, in Bilbao, Spain, November 30, 2021. REUTERS/Vincent West/File Photo
ITX
-

MADRID (Reuters) - Trade unions representing about 1,000 Zara shop assistants in the Spanish apparel maker's hometown of A Coruña will meet with the company on Thursday to negotiate a pay rise, a union leader said.

CIG, one of the unions representing shop assistants in the northwestern city, is threatening to strike on Nov. 24 and Nov. 25 - during the Black Friday period - unless the company meets its demands for a pay rise of 500 euros ($519) a month, union leader Carmiña Naveiro told Reuters.

Zara owner Inditex (BME:ITX) has so far offered a rise of 183 euros per month, staggered over three years, on salaries that range between 1,058 euros and 1,400 euros a month, Naveiro said.

"We see how much the group sells and we're tired of being the last link chain that they take into account," Naveiro said.

Inditex did not immediately respond to a request for comment.

Representatives of the company's two largest unions, UGT and CCOO, confirmed they will also attend the meeting. They have no plans to call for a strike for now.

"We're placing our bets on negotiations because Inditex is sitting at the table," Lucia Trenor, a union leader at CCOO said.

The shop assistants want to be paid the same as workers at the company's logistics centres, who earn about 2,000 euros a month.

Other union leaders believe it will be difficult to negotiate wage parity with logistics centre workers but say there is pressure at the company's factories and shops to negotiate pay rises given the soaring cost of living.

© Reuters. FILE PHOTO: A shopper carries a bag from Zara clothes store, part of the Spanish Inditex group, in Bilbao, Spain, November 30, 2021. REUTERS/Vincent West/File Photo

Inditex has 165,000 employees in 177 countries. About 86% of them work at the clothes-maker's shops.

($1 = 0.9633 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.