Finland - Agreement reached in banking sector - December 18, 2009

After ten months of negotiations and a three-day strike earlier in the week of the 30,000 employees involved, a collective agreement has been agreed upon in the banking sector between the Federation of Finnish Financial Services and two unions, SUORA and the Federation of Professional and Managerial Staff (YTN). Under the contract, a general pay hike of Euro 18.50 a month, or at least 0.6! 5%, will take effect from 1  January 2010. An increase of 0.95% will be paid by early June 2010. Separate talks are to be held on new pay increases for the autumn of 2010 and the summer of 2011.

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This article was published in the Collective Bargaining Newsletter, which presents up-to-date information on collective bargaining developments across Europe. It aims to facilitate information exchange between trade unions and to support the work of ETUC's collective bargaining committee. For more information, please contact the editor Maarten van Klaveren, Amsterdam Institute for Advanced Labour Studies (AIAS) You may find further information on the ETUI at, and on the AIAS at © ETUI aisbl, Brussels 2009. All rights reserved. The ETUI is not responsible for the content of external internet sites. The ETUI is financially supported by the European Community. The European Community is not responsible for any use made of the information contained in this news section.

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