Economy May 20, 2015 | 3:51 pm

Dominican Republic wage raise talks fizzle, unions warn of strike (Update)

Santo Domingo.- Just one hour after an apparent breakthrough in the tree-way talks to agree on a wage increase on Wednesday union (CNTD) leader Jacobo Ramos warned that "labor peace is broken in the country" starting today and announced protests beginning 10am Friday.

FILE. At the meeting Wednesday of the Salary Committee employers agreed to shelve their demand to reclassify companies until 2017 and again asked that union laders cut back on their demand of a 25 percent increase on the minimum wage.

Both sides are currently holding interim meetings (outside the formal setting) while the union leaders bowed to management’s request and softened their demand from 25 percent to 20%.

Management meanwhile had ratcheted its pay raise offer from last week’s 8% to Wednesday’s 10 percent.

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