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Brazilian banks' wage offer gets nod from striking labor leaders
October 24, 2015 / 9:14 PM / 2 years ago

Brazilian banks' wage offer gets nod from striking labor leaders

SAO PAULO, Oct 24 (Reuters) - Union leaders are recommending that Brazil’s biggest banking industry union approve the latest pay offer from banks at a worker assembly on Monday, suggesting a disruptive three-week strike could be coming to an end.

The Sindicato dos Bancários de São Paulo, Osasco e Região, the industry union covering Brazil’s biggest city and financial hub, will meet to consider a sweetened proposal on Friday from the National Banking Federation, or Fenaban.

The union has rejected previous offers out of hand, leading to Brazil’s most disruptive banking strike in years, which has stretched well beyond the short-lived demonstrations that usually mark annual wage talks.

The new offer includes a 10 percent pay raise and a 14 percent increase in food vouchers for the upcoming year, which union leaders touted as a breakthrough. Consumer prices have risen nearly 10 percent in the past 12 months, even as the Brazilian economy slipped into its worst recession in 25 years.

“This was a victory for workers because the banks wanted an adjustment below inflation. We had a robust strike, with the mobilization and unity of bankers across the country,” said Juvandia Moreira, head of the Sao Paulo union, in a written statement on Saturday.

National union leaders approve of the latest proposal, the statement added. (Reporting by Guillermo Parra-Bernal; Writing by Brad Haynes; Editing by Marguerita Choy)

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