Following failed collective bargaining negotiations, a 3-day strike in the Austrian metal industry begins on Monday

Following failed collective bargaining negotiations, 3-day strike in Austrian metal industry begins on Monday.

GENEVA -More than 500 mechanics from elevator companies blocked a street in Vienna's city center on Monday to begin three days of strike in the metal industry, local media reported.

According to the Austrian Trade Union Federation (OGB), the strike is planned from Monday to Wednesday and are a reaction to the collective bargaining negotiations that failed the previous week.

The employees want a total wage increase of 11.6%. The employers' latest offer was 10% plus a €1,500 ($1,610) one-off payment over a 24-month period.

Another option offered by the employers is a 2.5% wage increase plus €100 fixed amount per month more and €1,050 one-off payment. However, this offer was also rejected by the OGB.

The trade union explained in a statement that inflation was blatant and that families did not know how to feed themselves. Therefore, the OGB continued, they are not giving in either.

On behalf of the employers, Christian Knill, chairman of the Federation of the Metalworking Industry (FMTI), defended the employers' offer, including one-off payments.

"It is also about ensuring that we do not cause lasting and permanent damage to the companies," Knill told public radio station O1.

The strike that is now taking place include companies that employ more than 200,000 people in total. According to the Metal Industry Association, 669 companies generated a turnover of around €45.2 billion ($48.5 billion) in 2021. This made the metal industry the sector with the highest turnover.

In 2022, the metal industry ranked second with €49.9 billion behind gas and heat supply companies, which generated €59.2 billion.