V&D: no pay cuts; but layoffs

V&D has reached an agreement with the unions. The company will not cut its employees' wages, but to make this possible, a reorganisation will be necessary. A total of 400 jobs will be scrapped in this reorganisations, NOS reports. The company has already drawn up a social plan for the employees that become redundant. The new collective bargaining agreement further states that employees will have to give up a holiday once off. The seniority scheme has also been cut back.