Telmex and union reach contract agreement to raise salary

Telmex, the Mexican telecommunications firm controlled by the family of tycoon Carlos Slim, reached a contract agreement with its union to raise salaries up to 4.5% for some workers, Mexico’s government announced on Wednesday.

Employees making under 1,122.22 pesos, or around $56 a day, will receive the 4.5% bump, while those making more than that amount will receive a 50.50 peso ($2.52) raise plus a 1.1026% increase to benefits, the government said in a press release. Reuters