LKQ Announces New Two-Year Labor Agreement in Germany

By Tamara Parker • Monday, June 24 15:21 • Permanent Link

LKQ Corporation (NASDAQ: LKQ) has announced a new two-year collective bargaining agreement with the trade union Verdi in Germany, covering approximately 5,000 employees of LKQ Europe in the country, including 730 colleagues at LKQ's Sulzbach-Rosenberg distribution center. The agreement, which expires on April 30, 2026, includes a mandatory peace obligation, immediately ending all strike activity throughout its term.

Under the new agreement, employees will benefit from a collectively agreed increase, inflation compensation, and enhanced salaries for trainees. This provides certainty for both the employees and the business over the next two years and acknowledges the value and hard work provided by the employees to LKQ and its customers.

The specific details of the compensation increases and inflation compensation were not provided in the press release. The market has reacted to these announcements by moving the company's shares 1.3% to a price of $42.19. Check out the company's full 8-K submission here.

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