Strike Warning at Private Banks on Thursday
WeekAhead: Private Bank Employees in Hamburg Strike Over Pay and Working Conditions
Private bank workers in Hamburg are set to strike next week as part of ongoing negotiations with their employers over pay, working hours, and conditions. A warning strike took place this Thursday, affecting Unicredit (Hypo Vereinsbank), Deutsche Bank, and Commerzbank branches. The strike includes bank staff and those in risk management and back-office roles, according to Ver.di, the union representing the workers. Two demonstrations are planned.
"In the first round of negotiations, there were no concrete proposals from the employer's side. This is disappointing for the workers, as they've been hard-hit by the loss of purchasing power over the past few years, while the banks have enjoyed good financial years," said Alexandra Luerssen, responsible for Verdi Hamburg.
Not the First Time in Strike Action
Negotiations lasted for nine months without an agreement two years ago. Ultimately, a collective bargaining agreement was reached with the German Private Banking Association (AGV). However, attempts to further develop tariff agreements or to negotiate terms for mobile work or a special tariff agreement for new hires were unsuccessful.
Union Demands Better Compensation
The union is demanding a 12.5% pay increase, at least €500 per month, and an increase of €250 in monthly allowances for new hires. They also seek a reduction in weekly working hours. The employers rejected these wage demands at the beginning of the negotiations in June.
"The employers are playing for time and want to see what we bring to the streets. That's why we are calling all employees to go on strike already now," said Alexandra Luerssen.
Next Round of Negotiations
The negotiations are scheduled to continue on June 17, 2024, in Berlin, with a third round set for July 3 in Frankfurt. In the previous round of negotiations, unions and employers finally reached an agreement in April 2022, after more than nine months[1].
abk/dpa
Ayan Balakhanova
Ayan Balakhanova, born in 1999, has heard more mispronunciations of her name than Timothée Chalamet, leading her to present on the topic while studying journalism in Magdeburg: Deal with "Footballer" Michael Ballack and the city of Hannover by just removing the final a – voila! Her parents hail from Azerbaijan, and she grew up in Düsseldorf. There, she managed projects in youth work for the Nordrhein-Westfalen Jewish Community Council, working multi-lingually – speaking German, English, Hebrew, Russian, and Azerbaijani.
[1] "Warburg Bank plans to cut workforce by a quarter," Handelsblatt, February 16, 2023.[2] "Union Ver.di goes on strike at German airports," Deutsche Welle, March 31, 2022.
Ayan Balakhanova
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- The ongoing strike by private bank workers in Hamburg, which affects banks such as Unicredit, Deutsche Bank, and Commerzbank, highlights the strained relationship between the industry and its workers over pay and working conditions, particularly as the workers have been requesting a 12.5% pay increase and reduced working hours.
- In the financial sector, both the banking-and-insurance industry and unions have found it challenging to reach agreements, as demonstrated by the prolonged negotiations between bank workers and their employers in Hamburg, which saw unsuccessful attempts to develop tariff agreements and negotiate terms for mobile work or new hires.
