The increase means that Inditex will pay a minimum wage of €1,500 a month for new shop assistants and a minimum of €2,041 in the case of workers with higher responsibilities at the stores. It will be higher in provinces where shop assistants were paid much less, reaching an increase of 40% to make it fair across the country. The agreement also contemplates an extra bonus of $1000 euros paid in February and an increase in salaries to the same rate as Spain's annual inflation for the next 3 years.
Zara's workers have been battling hard for over a year for serious pay raises and they've got them. Yay! Incredibly (not really), Inditex shares fell 4.6% in the stock market after "the world's biggest fast fashion retailer agreed an inflation-busting 20% increase in average wages for shop workers in its home market of Spain" (Reuters). Literally, companies in Spain are shitting their pants after this agreement, they know what's coming.
I really hope the strikes in the UK by nurses, fire brigades, ambulance personnel have the same result. Stagnant wages can't be sustainable much longer if we all want a decent wage and standard of living.