On the eve of the opening of the wage negotiations in the banking sector, on June 19, the commission for collective agreements of the German services union revealed its requirements. Ver.di wants an 8% wage increase as well as agreements on job security for the 420.000 employees of a sector where important mergers and takeovers are looming ahead. According to Ver.di, 20.000 jobs are threatened. (Ref. 080504)
The renegotiation of the collective agreements in the banking sector is going to start in parallel to important strategic moves which could lead to many job cuts. The Deutsche Post – of which the majority shareholder is the federal state – announced that it was selling the Postbank (22.000 employees) by the summer. In addition, the American Citigroup, badly affected by the sub prime crisis, wants to part with its German activities – i.e. Citibank (6.800 employees) – ASAP. Allianz, which owns th
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