Labour Court recommends immediate 2% pay increase at Artesyn Technologies

In 2002, the Labour Court recommended that Artesyn Technologies pay a 2% increase under the Programme for Prosperity and Fairness immediately, without retrospection at that time. The Services Industrial Professional Technical Union said the company had made an approximately €5.7 million profit when the claim was made and that staffing had fallen from 650 to 230. The company said it could not afford the increase and warned of possible further job losses. The Court recommended that retrospection be discussed after new company accounts became available in April 2003. The recommendation was signed on 18 December 2002.