Tata Steel has finally agreed to the demands of workers at its IJmuiden unit in the Netherlands, saying no employee will lose his job, according to labour union FNV Metaal.

In a statement, the Dutch workers’ union said it had reached an agreement with the management of Tata Steel in the Netherlands. The company too confirmed the development.

In addition, the employment pact, which contains agreements on job retention, has been extended by five years until October 1, 2026, he said in the statement. “The pact also contains agreements about working less for older employees. The current generation pact has therefore been extended by two years until December 31, 2024.

“This pact includes the possibility of working 50% after the age of 60, while retaining 100% pension accrual and 77-90% of wages, depending on the amount of the current salary,” the union said.

Roel Berghuis, director, FNV Metaal, said, “This agreement counterbalances the risks we saw coming from Tata Steel Europe. It shows that striking pays off.”