Mexico's Telmex reaches pay rise agreement with union, ministry says
Reuters
Published Jun 05, 2023 10:18PM ET
MEXICO CITY (Reuters) - Mexican telecom Telmex, a subsidiary of America Movil (NYSE:AMX), has reached a deal with a workers' union that proposes a 5.6% pay rise, the country's labor ministry said on Monday, after extended negotiations.
The pay hike would apply to workers and retirees earning less than 1,185.06 Mexican pesos ($67.90) a day, the ministry said in a statement, while those earning above this would receive a fixed daily increase of 66.36 pesos.
Some 30,000 current and retired workers will now vote on the deal, it added.
The firm, controlled by tycoon Carlos Slim's family, has also agreed to move forward with the hiring of 1,942 workers it had agreed to in January and to "begin an analysis" on covering 200 new vacancies, the ministry said.
The company and union also agreed on other commitments such as increasing market share, sales, customer retention, investments, benefits for workers' children, share-exchange and voluntary permanence programs among others, it added.
The labor ministry had been mediating between the company and the telephone workers' union.
($1 = 17.4537 Mexican pesos)
Get The News You Want
Written By: Reuters
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.