Tariff dispute: Verdi extends warning strikes at private banks

The employers and Verdi have not yet been able to reach an agreement in collective bargaining for the private banks. The union is now announcing nationwide strikes starting Monday.

Berlin. During collective bargaining for the approximately 150,000 employees of private banks in Germany, Verdi is calling for further warning strikes. From Monday there should be a nationwide industrial action - starting in Saxony, Saxony-Anhalt and Thuringia, as the union announced on Thursday, thereby increasing the pressure on employers before the third round of negotiations on November 23rd in Berlin.

“Rising prices, increasing profits, increasing demands – but less purchasing power for employees over the years,” said Verdi negotiator Jan Duscheck. “The banks want to increase their profits and are demanding sacrifices in living standards in return – not with us.”

Most recently, the employers submitted an offer for the first time. This provides for an increase in collectively agreed salaries by 4.2 percent from mid-2027 over a period of 36 months. Verdi criticized this as inadequate and complained that no salary increase was planned from October 2026 to June 2027.

“In mathematical terms, of the announced 4.2 percent, only around 1.4 percent salary increase per year remains over the three-year term,” explained Verdi. This would mean that income development would be significantly below the expected inflation - with the result of further real wage losses for employees.

Verdi had already increased the pressure with warning strikes before the second round of negotiations in Frankfurt. The union wants to achieve a six percent increase in wages over a twelve-month collective agreement.

In the discussions, Verdi also advocates for junior staff, trainees and dual students to be taken on on a permanent basis, full-time, and for binding rules on employment protection, personnel planning and qualifications when using artificial intelligence.

From the union's point of view, the agreement should also be transferred to employees above and beyond collective agreements.

Both sides last agreed on 10.5 percent more money in 2024 with a term of 28 months.