Most bank workers return to work

The National Confederation of Financial Sector Workers (“Confederação
Nacional dos Trabalhadores do Ramo Financeiro – Contraf –CUT”) reported
last night that the majority of it member unions had decided to accept
the proposal by the National Federation of Banks (“Fenaban”), the Banco
do Brasil and the Federal Mortage and Savings Bank (“Caixa Econômiica
Federal”) and end the strike that lasted 21 days. Bank workers are to
return to the job today (October 18).

Under the terms of the new contract, bank workers will not be docked
for the days they did not work while on strike but will have to make up
for them with overtime of up to two hours per day between now and
December 15.

Those workers in private sector banks will receive a salary increase of
9% and can receive payments of up to 2.2 times their salary as
participation in profits (“PLR”). The entrance salary will rise from
R$1,250 to R$1,400.

Workers in big government-run institutions got a slightly better deal,
which is usual. In the Banco do Brasil and Caixa, for example, along
with the gains achieved by all bank workers, the 9% increase will be
extended beyond salaries to benefits (meal vouchers and day care, for
example).

The president of the Rio de Janeiro bank worker union (“Sindicato dos
Bancários do Município Rio”), Almir Aguiar, declared the strike a
victory. “This was the biggest strike in 20 years. We paralyzed 9,254
bank branches all over the country. It was made very clear that bank
workers were discontent with the initial proposals made by the bankers.”