News

Thousands of bank workers went on the streets in Italy to demonstrate against the end of the national collective agreement.

UNI's affiliates reported a 90%  participation rate for today's strike action, protesting at Italy's Banking Employers' Association's unilateral unilateral decision to terminate the national collective agreement and change bank workers' terms and conditions from April 1.

FISAC-CGIL's international co-ordinator Mario Ongaro said it would mean longer hours, less salary and a squeeze on vocational training. Not only would workers suffer but so would customers as standards fall.Ongaro was clear about the motive for the move by the bank employers, "They want to keep their privileges and to keep their privileges they cancel our rights."

The top tier of bankers has seen their salaries skyrocket even since the beginning of the financial crisis in 2008, with some earning up to 3.7 million euros per year plus bonuses compared to the 40,000 euro average annual salary earned by bank workers - meaning they would have to work a hundred years to have parity with the bosses.

UNI Finance would like to express its full support to the UNI affiliates in Italy.