Spain’s main railway company signs deal

RENFE, Spain’s principal railway company, has signed a three-year deal with the five representative unions in the company which will run from 1 January 2022 to 31 December 2024.

The agreement, which covers all the company’s staff, other than senior management, was signed on 4 November. It provides for a 3.5% increase this year, backdated to 1 January, a further 2.5% increase from the start of 2023 and a final 2.0% increase from January 2024. Each of these increases may go up by a further 0.5%, depending on developments in inflation and GDP.

This year’s increase is well below the latest inflation figure, which was 7.3% in October. However, it is above the average increase in pay deals signed so far in 2022, which, on the basis of government statistics, was 2.57% in the period to October.