Italy: Banks sign collective agreement after two years of unrest over pay
Banking unions finally agreed pay rises with the Italian Banking Association (ABI) in March 2015 after nearly two years of unrest.
The sector’s new collective agreement between the unions and the Italian Banking Association (ABI) provides for a maximum increase in monthly gross pay of €85 by October 2018. Increases were also agreed for newly hired workers and several provisions were made to help support youth employment and reduce the social impact of restructuring processes. Money for this will be made available through the Sectoral Paritarian Fund. This and the Solidarity Fund will also help pay for retraining and supporting the outplacement of people who are made redundant.
The agreement also proposed setting up ENBICREDITO, a bilateral organisation to support labour market matching, and the creation of a bilateral committee to create a more flexible job classification system. The deal will have to be approved by workers’ assemblies which are expected to be held by 15 June.
The unrest in the sector began in September 2013 when the ABI withdrew from the national collective agreement and cancelled previously agreed wage increases. The ABI said it had acted because of the poor economic performance of its members, and it proposed negotiating a new agreement to set more moderate labour costs.
However, these negotiations proved fruitless and, on 30 January 2015, 300,000 bank workers were called out on strike. Unions said 90% of the workforce took part.