What: Galeria Karstadt Kaufhuf has reached an agreement with the United Services Union (Verdi) to secure a special payment for about 12,000 employees before Christmas.

Why it is important: The Verdi labour union has made significant progress in their lengthy negotiations with Galeria management.

The terms of the agreement includes a EUR 500 bonus in November, comprising a EUR 400 inflation compensation and a EUR 100  goods voucher. Part-time employees will receive these bonuses proportionally. Additionally, 50% of 2023's time credits will be converted into a one-off payment, with the rest turning into extra vacation days.

Further negotiations on wages and collective bargaining are set to continue in January 2024.

Galeria and Verdi reach special agreement before Christmas