Banks suggest 15% wage cut for new sector contract

15.2.13

Ethniki Trapeza, Alpha Bank and Trapeza Piraeos have invited the federation of bank employee unions (OTOE) to negotiate and sign a new sector labor agreement. The first meeting was arranged to take place on the 25^th of February, with bank managements rumored to have already suggested a 15% reduction in wages.

The initiative came after OTOE made the request. Should there not be a new contract agreed upon in the next trimester, as of the 15^th of May wages will be restricted to the basic sector wage plus benefits (such as seniority, parenthood and studies) and the special benefits that are covered by each bank’s business contracts in effect.