News

On 19 January, the Italian trade unions in the banking sector signed a new National Collective Agreement that covers more than 320.000 workers in the finance industry.



Under the new deal, finance workers will receive an increase of in their monthly salaries of 170 Euros over 3 years, receiving a 50 euro increase in 2012, 50 euro increase in 2013 and the final 70 euros in 2014.  The unions and employers also agreed that the sector will add 16.500 jobs in the next three years, which could grow to 25.000 over the next 5 years. The new workers added in the sector will be covered by the Collective Agreement but their salary level will be 20 percent lower than those of current workers in their first four years of employment,.



The agreement also says that outsourced banking IT work is covered by the National Banking Collective Agreement and the Italian finance unions have the right to organise the workers.



UNI Finance welcomes this agreement in Italy as an example for other European countries to follow. It offers a model for unions and employers to face the crisis, protect existing jobs and create new employment to rebuild a strong European economy and come out of the crisis.



The new National Collective Agreement does not cover cooperative bank workers, who are negotiating their own national agreement at the moment.