On August 11, Turkish integrated steelmaker Erdemir announced that it has decided as of September 1, 2010 to terminate the 35 percent cut in employees' wages which was introduced in April 2009 as an alternative to the dismissal of many workers due to the grave consequences of the global financial crisis on the steel market.
As SteelOrbis previously reported, in April 2009 Erdemir cut wages and other rights attached to them by 35 percent; however, monetary and non-monetary benefits were not affected by the cut. The measures were implemented for all staff, including those not covered by the collective agreement, as well as for top level executives.