Bulgaria's Heavy Industry Can Afford 20% Pay Raise – Expert
The productivity in certain sectors increases but this does not affect wages, the Confederation of Independent Trade Unions of Bulgaria president Plamen Dimitrov claimed.
"There are at least 7-8 branches in the heavy industry sector, which report productivity rates growth of 17% to 30 %, which means that wages can be increased by 10% to 20%," Dimitrov told Bulgarian Nova TV.
According to him, up to 50% of labor productivity growth is not reflected in employees salaries in certain industrial sectors. Therefore, a pay raise is possible without it resulting in bankrupting businesses and increasing unemployment.
According to the Confederation of Independent Trade Unions of Bulgaria (KNSB), some BGN 100 – BGN 150 monthly salary increase is possible in certain heavy industry and manufacturing sectors.
"We all produce some BGN 80B, 40% of it goes for labor, 60% for the businesses," Dimitrov said, adding that it should be the opposite.
"Workers must learn how to negotiate their salaries. This can be done through legislation," he added.
KNSB insisted that the Labor Code must provide that 80% of the current monthly income per worker will be guaranteed by the basic salary and the rest will come from bonuses which will not exceed 20%.
The Labor Code should ensure 100% paying off of salaries even when the employer faces poor financial circumstances, the KNSB representative argued.
- » Labor Costs Increase by 12% by the End of 2017
- » The American University in Bulgaria Organizes a Conference on Entrepreneurship
- » What is the Future of Real Estate in Sofia?
- » Sudan, World's Last Male Northern White Rhino, Dies
- » Belgian Far-Right Politician Accuses Muslims of Creating Tension
- » Turkey Insists 'Won't Stay' in Syria's Afrin