May 31, 2018 / 4:51 AM / 10 months ago

Norwegian banks hit by small strike, avert larger conflict

OSLO (Reuters) - Some 1,200 staff at Norwegian banks will go on strike on Thursday after negotiations over wages, pensions and other conditions broke down, the industry and the LO labor union said.

However, banks and insurers averted the threat of a much bigger strike by agreeing to demands from the industry’s largest labor union, the Finance Sector Union of Norway, which had threatened to pull more than 20,000 members off work.

While the larger union’s demands had primarily centered on pay, the LO, which went on strike, had also demanded a reform of pensions and broader rights to negotiate on behalf of its members.

Reporting by Terje Solsvik; Editing by Himani Sarkar

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