Union Calls for Strikes at Deutsche Bank, Commerzbank on Pay

Germany’s Ver.di labor union called for a second round of strikes over pay at the nation’s banks, starting May 23 in southern cities including Stuttgart, Karlsruhe and Mannheim.

Ver.di is calling for a 6 percent wage increase as well as other benefits such as better health care. On May 4, the union rejected a 4.3 percent offer by the banks as “entirely insufficient”.

“The offers made by the employers are not acceptable looking at the wage deals in other sectors”, Rosemarie Bolte, who leads the negotiations for Ver.di, said in the statement.

Ver.di represents 220,000 bank employees and workers from Germany’s private and publicly owned banks. Among those asked to strike were employees of Commerzbank AG, Deutsche Bank AG, Wuestenrot Bausparkasse, LBBW and Bausparkasse Schwaebisch Hall.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE