"United Mining and Chemical Company" | News | Wages at the subsidiaries of PJSC UMCC to increase by another 15%

Wages at the subsidiaries of PJSC UMCC to increase by another 15%
Wages at the subsidiaries of PJSC UMCC to increase by another 15%

08.11.2017

Starting from November 1, the base tariff rates (wages) of the employees of VMMP and IMPP, subsidiaries of PJSC UMCC, will be increased 15%, according to the company's board decision announced at the field meeting on November 6 at Vilnohirsk subsidiary.
The decision was preceded by the negotiations with the trade union of the Primary Trade Union Organization of the Metallurgists and Miners Trade Union of Ukraine and analysis of financial possibilities of the company, according to the Acting Chairman of the Board of PJSC UMCC Oleksandr Hladushko.
As a result of readjustment of wages, the payroll at PJSC UMCC will increase by UAH 71 mn together with accrued taxes based on the results of next year. The wages will increase by nearly UAH 49 mn at VMMP and by UAH 22.1 mn at IMPP.
It was planned that the total payroll in the company in 2017 would amount to nearly UAH 542 mn. After the increase of wages to the employees next year, the company will spend around UAH 613 mn on the payroll, accrued taxes included. The company’s net income in 2016 was UAH 643 mn.
This is the second raise of wages at the company's subsidiaries this year. As a reminder, the wages were also raised in April 2017 by 10%. Therefore, as of the end of 2017, the wages at the plants will increase by 25%.
“At the moment, we have already exceeded our obligations under the annually permitted increase of tariff rates for our employees. The industry agreement envisages the right of the employer to raise wages by 18% annually. After the latest raise, the percent of wage increase at PJSC UMCC will be 25% as of the end of this year, which is higher than that set in the agreement,” says Hladushko.
Increase of wages to the employees of the subsidiaries starting from November 1 is not the last incentive for the company's personnel provided by UMCC's central office. “We continue to seek ways to motivate the highly required specialists at the plant. This implies the so-called selective increase of wages to the employees of specific professions that the company is in need of,» comments Oleksandr Hladushko.