07:12 AM EST, 11/05/2024 (MT Newswires) -- Tesla (TSLA) increased wages of all staff at its German gigafactory outside Berlin by 4% in November, Reuters reported Tuesday, citing the company.

German union IG Metall was not involved in this raise, the report added, citing the EV maker.

Erik Demmler, Tesla's human resource executive told the publication that this is a good news for auto workers when the country's automotive industry is talking about job cuts.

Tesla did not immediately respond to MT Newswires' request for comment.

Shares were up 2% in recent premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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