Union wants reduced working hours in banks

Wage negotiations for 60,000 employees in the domestic credit sector begin tomorrow, Tuesday. The GPA chief negotiator Helga Fichtinger and chief negotiator Wolfgang Pischinger, central works council at Oberbank, presented a package of demands today. The full annual inflation of 2022 of 8.6 percent will have an impact. The employee representatives demand 10.6 percent on the minimum and higher actual salaries.

But that’s not all: The trade unionists argue that the banks urgently need young employees, and to appeal to them, the weekly working time should be reduced to 36 hours, with full pay compensation.

Pischinger argues with the current economic figures of the industry. In fact, the domestic banks are facing better results due to the turnaround in interest rates in the previous year. Pischinger quotes a forecast annual profit for the industry for 2022 of 4.4 billion euros.

According to Fichtinger, female employees in particular would find it easier to switch to a full-time job if their working hours were reduced. In fact, banks would motivate their part-timers to add hours. Against this background, however, a general reduction in working hours is not expedient, according to employer circles.

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Author

Sigrid Brandstaetter

Deputy Head of Economics Department

Sigrid Brandstaetter

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