Greek banking unions make key gains in new sectoral agreement

Greek banking unions make key gains in new sectoral agreement

UNI Global Union affiliate, the Greek Federation of Bank Employee Unions (OTOE), has achieved a new sector-wide agreement with Greek banks that includes a pay rise of 5.5 per cent as well as a commitment to safeguard jobs and an outline for remote working.

In a statement by the union on 4 April, OTOE President, Giorgos Motsios, said:

“Under the present circumstances of intense uncertainty, instability, questioning and attacks on the role of collective agreements, OTOE has succeeded in concluding a three-year term national sectoral agreement which protects jobs, increases salaries by 5.5 per cent and establishes a framework for regulating remote work, further enhancing safety, protection and perspectives for the workers in the sector. OTOE is sending a message of optimism, confidence and perspective with wider social and political implications.”

The deal, which was signed on 1 April 2022 and approved by the General Council of OTOE, comes after three months of difficult negotiations. It is the only national collective agreement that includes a clause to protect workers against redundancies. The main achievements of the agreement are:

  • A significant strengthening of the clause on Employment Protection: “The parties confirm their will to protect jobs in the sector for the next three years. Employers shall take reasonable measures to prevent redundancies for economic/financial reasons”.
  • Increase in salaries by 5.5 per cent in the next three years.
  • Introduces a basic salary (entry salary) which will exceed 1,000 euros – a first for a sectoral collective agreement of such range in Greece.
  • The first remote work framework, including the right to disconnect, in a national sectoral collective agreement in Greece. The 15-point framework provides a basis for further improvements and specifications at company level.
  • Improved and codified conditions for granting annual leave.
  • Continued financial support by employers for research and training activities, as well as for cultural and sport activities for workers in the sector.

Angelo Di Cristo, Head of UNI’s Finance sector, was in the Greek capital acknowledged OTOE’s win saying:

“OTOE showed the determination to defend the institution of national sectoral collective agreements, so that workers have a satisfactory, fair and decent working conditions.”

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