German industrial workers and employers set to resume talks on Monday

FRANKFURT (Reuters) – Industrial workers and employers in Germany planned on Monday to resume talks after a series of 24-hour strikes over pay and working hours last week, the IG Metall labor union said.

IG Metall has threatened to ballot its members for extended industrial action if employers fail to offer concessions following the strikes.

Citing Germany’s fastest economic growth in six years and record low unemployment, the union is demanding an 8 percent pay rise over 27 months for 3.9 million metal and engineering workers across Europe’s largest economy.

Last week’s strikes cost carmakers, automotive suppliers and engineering firms almost 200 million euros ($249.02 million) in lost revenues.

The walkouts affected large companies such as Daimler (DE:), BMW (DE:) and Airbus (DE:) but also dozens of smaller suppliers whose products are used to make cars, planes and machinery.

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