On 19 April, following fourteen months of meetings and difficult negotiations, an agreement was signed for a banking sector that is preparing itself for a new wave of restructuring. The four-year deal marks the thirteenth collective agreement and sets out the working conditions for the 100,000 workers in the banking sector.
The agreement was signed between the employers’ Spanish Banking Association (AEB) and both the Services union federations, the CCOO and the financial services arm of the General Workers’ Union (UGT).
The main points of the agreement include:
- A 4.75% salary rise spread over four years: 0.25% retroactively for 2015, 1.26% for 2016, 1.50% for 2017, and 1.75% for 2018. These amounts may be increased further to a total of 5% in line with calculations from the sector’s 2018 results.
- Encouragement for
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