German chemical workers demand 7% wage hikes ahead of negotiations

Germany's unionized chemical workers are demanding 7% wage increases and better benefits ahead of collective bargaining talks with the leadership of the country's important chemical industry.

The bargaining committee of the IG BCE trade union, which represents about 585,000 people who work in Germany's chemical and pharmaceuticals industry, passed a resolution with the demands on Wednesday.

Sector-wide negotiations in the nine collective bargaining districts across Germany are slated to begin next week.

According to IG BCE, the current collective bargaining agreement is set to expire on June 30. Strikes are a possibility if a deal is not reached before then.

The chemical industry is one of the heavyweights of the German economy. Industry leaders have warned that the sector is facing a crisis due to rising energy prices, declining sales and overcapacity.