July 5, 2015 / 4:40 PM / 5 years ago

Deutsche Post reaches pay deal to end strike

BAD NEUENAHR, Germany, July 5 (Reuters) - Deutsche Post and trade union Verdi have reached an agreement in a dispute over pay and conditions that has led to a series of strikes, including one that has lasted four weeks, they said on Sunday after marathon negotiations.

The German postal operator will give its 140,000 workers a pay rise of 2 percent in 2016 and 1.7 percent in 2017, plus a one-off payment of 400 euros ($444) this year.

In return, the union agreed to let Deutsche Post press on with plans to create new, low-cost parcel divisions, for which the company plans to hire 10,000 people. ($1 = 0.8999 euros)

Reporting by Anneli Palmen; Writing by Georgina Prodhan

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