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FRANKFURT, April 26 (Reuters) - Deutsche Post agreed to a two-phased wage increase for about 130,000 letter carriers in Germany, a key executive said on Friday.
Europe's biggest mail and express delivery company will increase wages by 3.1 percent from August this year and another 2.6 percent from October next year, board member for personnel Angela Titzrath said on Friday.
The pay deal, which is valid for 26 months, was struck earlier in the day with trade union Verdi, which had initially insisted on a 6 percent increase.
A spokesman for the company said this year's profit outlook had already taken into consideration the expected wage rises. (Reporting By Matthias Inverardi; Writing by Marilyn Gerlach)