Greek bank workers finally get pay rise after decade-long salary freeze

Friday 14 June 2019

Workers across Greece’s banking sector will finally start seeing some of their lost income return after a new sectoral collective bargaining agreement was successfully achieved by UNI’s Greek affiliates OTOE after months of difficult and intense negotiations.

The workers have suffered from 9 years of salary cuts and freezes triggered by the 2008 financial crisis and the subsequent recession.

The new agreement, signed at the end of March 2019 and in force until 31 December 2021, also includes strong commitments from both the social partners to protect employment in the sector, a reduction in bank branches opening hours, training and upskilling on digitalisation, and better guarantees for maintaining work/life balance.

Read a summary of the agreement here:

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