Inditex has reached an agreement with the trade unions setting a fixed minimum wage from €18,000 for all employees in the shops of the group’s different brands throughout Spain, an amount to which will be added other variable payments such as those linked to seniority, commissions or night work, among others. It also approves aid for children and adoption, salary increases on Sundays and public holidays, higher commissions and bonuses. It will be valid for three years and will be reflected in the March payroll retroactively from January 2023.
According to Bankinter’s analysis team, in 2021 in Spain the group had 1,267 shops with a total of 6,477 employees, 19.5% of the worldwide total. Assuming a wage increase of +20% for the entire Spanish workforce, which represents 9.7% of operating costs, this would result in a cost increase of €167 million or 3.3% of operating profit.