Eskom Concludes Salary Hike Settlement with unions at seven percent
There will also be a one-time taxable payment of R10,000 (about $547.44) for the first two years. The pay increase will take effect on July 1, 2023, and will last until June 30, 2026.
Eskom Concludes Salary Hike Agreement (Long Terms Wage Settlement) with unions at seven percent
Eskom, the energy supply commission in South Africa, has struck a three-year wage agreement (long term wage settlement) with its recognised trade unions. Over a three-year period, the corporation and its unions will raise the pay of non-managerial staff by 7%.
Along with the wage increase, the parties have agreed to a 7% increase in housing allowance over the same time period. There will also be a one-time taxable payment of R10,000 (about $547.44) for the first two years. The pay increase will take effect on July 1, 2023, and will last until June 30, 2026.
In an official statement issued on Thursday, Eskom expressed gratitude to all parties involved for their determined dedication to the negotiating process, putting the well-being of Eskom and all South Africans first. According to Irvin Jim, general secretary of the National Union of Metalworkers of South Africa (NUMSA), this deal marks an improvement in the union’s relationship with Eskom.
The decision is expected to ensure employment security and allow all Eskom personnel to focus on high-quality maintenance work. This will also reduce the disturbance created by annual salary disputes.
Furthermore, Calib Cassim, Eskom’s group chief executive, underlined the importance of this deal to the organization’s stability in a statement. It will provide Eskom with the required time and opportunity to address its most serious difficulties collectively, particularly in the financial sector.
He went on to say that it is remarkable that the parties struck an agreement in person for the first time in over ten years.
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