December 15, 2018 / 12:07 PM / 7 months ago

German railway Deutsche Bahn reaches wage agreement with union

Stranded commuters wait for trains during a rail workers' strike across the country due to a pay dispute with Deutsche Bahn in Munich, Germany December 10, 2018. REUTERS/Martin Hangen NO RESALES. NO ARCHIVES

FRANKFURT (Reuters) - German railway Deutsche Bahn said on Saturday that it had reached a wage agreement with the EVG union following a walkout earlier this week.

Employees will get a 3.5 percent raise from July 2019 and a further 2.6 percent increase a year later. The deal also includes a bonus payment of 1,000 euros ($1,130.60).

The 29-month deal puts an immediate end to the threat of stikes for the state-owned rail company.

On Monday, German rail workers staged a four-hour stoppage that brought long-distance rail traffic to a standstill and disrupted commuter and freight trains.

The EVG union had initially demanded a 7.5 percent pay , increase for some 160,000 Deutsche Bahn employees.

($1 = 0.8845 euros)

Reporting by Tom Sims, editing by Louise Heavens, William Maclean

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