Reported 8 months ago
As inflation in Germany hit 7%, the highest in decades due to impacts from the Russia-Ukraine war since 2022, tens of thousands of bank employees are fighting for a 16% pay increase to cope with rising living costs. Negotiations with public and private banks like Deutsche Bank and Commerzbank involving around 200,000 employees have stalled, with unions seeking a 12.5% to 16% pay raise and warning of possible strike action if talks do not progress. The labor union Verdi rejected the offer of an 8.5% raise from private bank employers, considering it 'far from sufficient'.
Source: YAHOO