VR Union and SA, the Federation of Icelandic Employers, have settled on a short-term contract that will be valid through next year.
The agreement will retroactively cover November of this year, and includes a 6.75% wage increase, in addition to increased holiday bonuses and adjusted wage tables for hourly workers.
Some have noted similarities between the recent VR contract and that recently reached between SGS and SA.
The signing was a rather chaotic affair with representatives from throughout the country present. Official statements were relatively brief, given the long and tiring process it has been so far.
Kristján Þórður Snæbjarnarson, chairman of the Electrical Industry Association of Iceland, stated to RÚV. “We were trying to press these negotiations as far as possible. I think this is the best outcome under the circumstances.”
Notably, Ragnar Þór Ingólfsson, chairperson of VR union, gave no interview after the signing.
After the signing, representatives from both the trade unions, SA, and state mediators sat down to celebrate over waffles, a tradition in Icelandic labour contracts.