PKP Cargo reaches agreement with unions

A general strike at listed PKP Cargo has been called off as parties have reached a preliminary agreement, setting a new negotiation deadline at end-March, the company said in a market filing. The management has agreed not to proceed with employment cuts and trade unions have pledged not to take any industrial action until March 31, 2016. PKP Cargo has been in a collective dispute with the labor organizations since February this year. In its course, the management offered a net PLN 110 monthly salary hike vis-a-vis trade union demands for PLN 250.