TNT Unions Agree On Contract

Trade unions representing TNT workers signed a new collective labor agreement which will be in effect through April 1, 2009.

The agreement with Abvakabo FNV, BVPP, CNV Publieke Zaak and VPP unions applies to TNT workers in the Netherlands. The agreement was negotiated and agreed in principle on May 24, which avoided a planned labor action.

Under the agreement, all employees will receive a salary increase in the form of a structural increase of 3% retroactive to April 1, 2008. A 0.5% increase will be paid monthly until April 1, 2009 when the contract period ends.

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