Bank staff association demands wage increases of 3 to 5 percent
Published: Tuesday, Sep 10th 2024, 08:20
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The Bank Employees Association is calling on the banks to increase wages by 3 to 5 percent next year, depending on the specific situation of the individual institutions. Bank employees with lower and medium salaries should receive general salary increases to compensate for inflation and the loss of real wages suffered in recent years.
In addition, long-standing employees whose wages have not been increased for five years or more should now receive a pay rise, the bank staff association wrote in a press release on Tuesday. The majority of bank employees now earn less for the same work than they did five years ago.
In recent years, bank employees, like most employees in Switzerland, have had to accept large real wage losses. The high inflation in 2022 and 2023 was not even partially offset in most banks. At the same time, the 2023 financial year was excellent for most banks. A number of institutions reported record-high profits and even profit growth that exceeded that of the already very good 2022 financial year, according to the employees' association.
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