De Beers Agrees to 9% Pay Raise to Avoid Strike
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De Beers will raise pay 9 percent in South Africa to prevent a strike that was scheduled to start later today after the National Union of Mineworkers reached an agreement with the world’s biggest diamond producer.
“They could not afford a strike but neither could the NUM,” Peter Bailey, chief negotiator for the union, said in a phone interview. “A strike is always the last resort.”