The agreement also provides for a working party to be set up to examine issues related to work-life balance.
Both parties said there was a determination to reach an agreement due to the industrys current problems, and that the agreement would help provide stability as well as improve productivity and efficiency.
The agreement is subject to endorsement from the GPMU Executive Council and BPIF National Council.
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"Sad to see another print company facing financial trouble. The industry is tough, and this highlights the ongoing challenges many are facing. Hope employees and customers get clarity soon."
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