The Balenciaga Working Committee and the Abu Dhabi Ports Group have signed an agreement that will reduce wages by 5%

The Balenciaga Shipyard Working Committee and the Abu Dhabi Ports Group have signed an agreement for the purchase of the company in Zumaia (Gipuzkoa) by which workers have agreed to lower their wages.

The agreement is part of the current treaty and will remain in force until 2028. Within this framework, a 5% reduction in wages has been introduced, which will be frozen for the next three years. The Commission is planning to negotiate a bonus system.

The company has 59 employees. The previous week, on the 20th, these conditions were approved by an assembly. The company has also signed these terms. The operation, valued at EUR 11.2 million, ensures the continuity of industrial activity in the facilities of the Gipuzkoa shipyard.

The Department of Food, Rural Development, Agriculture and Fisheries of the Basque Government has just made a proposal to grant Balenciaga Shipyard the occupation of the port of Zumaia within the initial period of 10 years (renewable), the guarantee of exploitation (190,000 euros) and the annual payment of the corresponding fees. The port of Zumaia must be used for the construction and repair of ships.