Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Thousands of Spanish bank staff strike to demand pay rise, union says

by Staff GBAF Publications Ltd
0 comment

Thousands of Spanish bank staff strike to demand pay rise, union says

MADRID (Reuters) – Around 60,000 banking employees across Spain went on strike on Friday to demand pay rises they see as justified after big lenders such as Santander booked record profits last year.

Trade union CCOO said that 75.8% of the country’s roughly 80,000 banking staff were taking part in the strike.

The leading unions are now demanding a minimum pay rise of 13% over a three-year period from 2024, less than the 17% to 23% increase they previously called for.

Spanish banking association AEB has offered an accumulated 8.25% increase, according to CCOO.

The AEB said in a statement it regretted the strike and the inconvenience it may cause without providing any figures of participation in the action.

“We express our willingness to try to find the necessary meeting points that will allow us to reach an agreement in the next meetings (with unions),” it said.

Spanish banks agreed to raise employees’ wages by 4.5% in 2023 compared to 2022, but that only partially offset the loss of purchasing power caused by steep inflation.

While protests in the sector have in the past been mostly directed against staff cuts, attention is now turning to wages.

Banks’ recent profits have been buoyed by a rise in interest rates and more expensive mortgages, while keeping a lid on rates for savers.


(Reporting by Jesús Aguado; editing by Emma Pinedo and Mark Potter)