Spain: new savings bank collective agreement sets framework for the expected restructurings in the sector

ACARL, the employers’ association of savings banks, and the sector’s majority unions (Comfia-CCOO, FeS-UGT, the Confederation of Independent Savings Bank Unions – CSICA, the Confederation of Galicia – CIG, and the Interunion Savings Banks Confederation – CIC) signed the agreement of savings banks and financial entities 2011-2014.  Unions said that this agreement, valid for four years, was “strategically key (…) to defend employment and working conditions of a changing sector.”  The collective agreement meets the need to determine stable bargaining framework to address the concentration of entities in an orderly manner and guarantee the legal security of employees’ rights in a context of changing legal nature of the entities, and going from the status of savings bank to that of bank.  Here are the key elements of the agreement. 
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gned the agreement of savings banks and financial entities 2011-2014. Unions said that this agreement, valid for four years, was “strategically key (…) to defend employment and working conditions of a changing sector.” The collective agreement meets the need to determine stable bargaining framework to address the concentration of entities in an orderly manner and guarantee the legal security of employees’ rights in a context of changing legal nature of the entities, and going from the status

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