150 thousand bank employees are going on strike in Germany: What are the workers' demands?

The United Service Sector Union (Ver.di), one of Germany's largest labor unions, called on employees in private banks to go on the first nationwide warning strike next week within the scope of the wage increase dispute.

In the statement made by Ver.di, it was stated that the purpose of the strikes was to increase the pressure on employers before the second round of negotiations to be held on November 2.

In the statement, it was reminded that the Private Banks Employer Association (AGV Banken) did not submit a proposal and rejected the basic demands of the employees in the first meeting of the collective bargaining agreement negotiations held on October 8, and that the collective labor agreement process directly concerns approximately 150 thousand employees. In this regard, the union announced that there will be full-day "warning strikes" in Hamburg on Monday, including Deutsche Bank, UniCredit and Commerzbank branches.

In the statement, it was reported that the union demanded a 6 percent wage increase for the 12-month contract period, as well as an additional 300 Euros per month for interns.

In the statement, it was stated that in addition to the salary increase, binding regulations were requested on employment security and the use of artificial intelligence, and it was emphasized that those who invest in new technology should also invest in the people who use this technology.

In his assessment of the issue, Ver.di chief negotiator Jan Duscheck argued that banks were abstaining about salaries despite announcing high profits and said, "Employers should step back. We expect a negotiable offer by November 2."

Private Banks Employers Association, on the other hand, argued that despite the good financial results of the banks, the sector faces serious risks.

In the statement made by the association, it was claimed that increasing company bankruptcies negatively affected credit operations and that banks were under pressure due to geopolitical and economic uncertainties.