The Unite trade union, which represents around 800 workers at consumer healthcare company Haleon in Dungarvan says its members have voted overwhelmingly to accept a pay deal.
The agreement will see pay increase by 5.5% on the 1st of January 2024 and by 4% on the 1st of January 2025.
Haleon was previously known as GlaxoSmithKline Consumer Healthcare.
The deal will also see workers receive a €1,000 tax-free voucher before Christmas this year, followed by two €500 vouchers at Christmas 2024 and 2025.
A previous three-year pay deal expired this year, and last November - Unite lodged a claim for a cost-of-living pay increase.
Members voted to reject a Labour Court recommendation and had been preparing to ballot for industrial action when the company negotiated an improved agreement.
Unite Regional Officer Rob Kelly has welcomed the news, saying: "This is not just good news for the workers and their families, but also for the local economy in Dungarvan and Waterford."
