Sweden's IT Sector Sees Reduced Work Hours and Pay Raise

At the same time, the salary is increased by 5.5 percent over two years.

This is the implication of the collective agreement Tech Sweden IT. According to the Swedish Association of Engineers, it is the first time a reduction in working hours is introduced in the service sector.

"The most important achievement has been to establish a reduction in working hours. Our goal is to establish a model with time banks that we can build up with more time in the future", says Ulrika Lindstrand, chairperson of the Swedish Association of Engineers, in a press release.

The agreement has been signed between the employer organization Tech Sweden and the trade unions Swedish Association of Engineers, Akavia and Unionen.

Corrected version: In an earlier version, an incorrect percentage was stated.