The Volta Aluminium Company (VALCO) says its workers rejected a 22 per cent increment in salaries. 

In a press statement issued on Wednesday, the management said the staff insisted it was insufficient.

According to management, union staff rather wanted a 55% increase.

However, it offered 22% with an assurance of a further increment but was rejected by the staff. 

“It must be stated clearly that the workers, after a series of negotiations led by their union executives, made an initial demand of a 62% salary increment to the Management of VALCO, and subsequently reduced it to 55%.

“In response, the Management of VALCO offered to grant a 22% increment in salaries for the workerswith the assurance of further increment in the future as VALCO continues its efforts in finding a strategic investor to retrofit the plant,” excerpts of the press statement said. 

The workers of Tema-based Volta Aluminum Company (VALCO) on Monday, October 31, protested against the continuous stay in office of some top management personnel.

They also want the removal of about 28 ‘retirees’ – nine of whom are in administration.

The over 300 workers in the protest have shut down the smelter.

During the said protest, the workers also called for their salaries to be pegged to the dollar, which has appreciated greatly to the cedi in recent months.

VALCO has, however, said these demands from the workers are “untenable and must be disregarded.”

It further indicated to the workers union executives that they will have to invite an independent arbiter to take up the matter after negotiations ended up in a stalemate.