Employers and unions extend collective agreement just before deadline

SA, VR, LÍV and Fagfélögin have agreed to extend their collective agreement, mbl.is reports. The deal was reached shortly before 4pm, the deadline for terminating the agreements over a failure to meet agreed conditions.

VR chair Halla Gunnarsdóttir met Prime Minister Kristrún Frostadóttir earlier in the day and came away with a proposal concerning an additional interest benefit. She then went to SA’s offices with representatives of LÍV and Fagfélögin, where intensive talks continued before the agreement was reached.

The employers’ association SA and the unions announced the agreement on Thursday. The report said it would be updated.