Collective bargaining for private banks broken off: strikes

Created: 2022-01-17Updated: 2022-01-17, 5:32 p.m

An employee wears a cap with the Verdi logo.

© Christophe Gateau/dpa/symbol image

Collective bargaining for private banks in Germany was broken off after just a few hours on Monday.

The Verdi trade union has “set up additional insurmountable hurdles for a collective bargaining agreement”, the employers’ association of the private banking industry (AGV Banken) justified the step.

The union emphasized: "We protect the interests of employees against abuse by employers and make sure that there is no loss of purchasing power among employees."

Frankfurt/Berlin - A one-time payment of 500 euros, as imagined by private bank employers, leads to a significant loss of salary.

"Our answer: The strikes will be continued and intensified in the coming weeks," announced Verdi negotiator Jan Showereck.

Verdi went into the negotiations for 140,000 employees, which began on July 1, with a demand for 4.5 percent more money for twelve months.

According to the employer, Verdi is now demanding a one-time payment of 1,500 euros for a period of 24 months, an increase in collective wages by 3.5 percent as of January 2022 and a further 2.5 percent as of January 2023, plus two additional vacation days.

According to employers, the German Bank Employees Association (DBV) has also slightly increased its demands.

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"Anyone who insists on completely unrealistic maximum demands for more than half a year and now even tightens them considerably removes the basis for further negotiations," said the negotiator of the AGV Banken, Commerzbank HR Manager Sabine Schmittroth.

Verdi, on the other hand, accused employers of playing the buck.

"We clearly showed a willingness to compromise - the employers didn't," said Duscheck.

The employers had not made any proposals of their own and had not shown any willingness to negotiate.

The talks had already stalled and, after a series of warning strikes, were only resumed in large groups on Monday - due to the pandemic in a video booth.

In anticipation of a possible conclusion, the AGV Banken recommends its member companies a gross one-time payment of 500 euros for employees and 100 euros for trainees by April 2022.

dpa