Collective bargaining round: Verdi: Nationwide warning strikes at private banks starting on Monday
Verdi and the employers are far apart in the collective bargaining negotiations for the private banks. Now the union is threatening with nationwide warning strikes. In three states, it is getting started.
In Germany, Verdi is expanding strikes in talks over wages for around 150,000 employees at private banks. A nationwide work stoppage is set to commence on Monday, beginning in the states of Saxony, Saxony-Anhalt, and Thuringia, according to the union, which announced this on Thursday ahead of the third negotiation round on November 23 in Berlin.
Verdi's negotiator, Jan Duscheck, pointed out that "rising prices, increasing profits, and mounting demands are accompanied by years of diminished purchasing power for employees." He criticized banks for seeking to boost their profits while demanding work force sacrifices in terms of standard of living – something Verdi does not agree with.
The last offer from employers presented a 4.2 percent increase in tariff wages by mid-2027, with a 36-month duration. However, Verdi deemed it inadequate, especially the lack of any salary raise from October 2026 to June 2027. Verdi calculated that only around 1.4 percent wage growth per year would remain over the three-year period, which would result in a significant real income decline for workers as this would fall short of the anticipated inflation rate, leading to further loss of purchasing power.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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