Bank employees say outsourcing affects wage increase

Feb. 25, 2015

Employees of the banking industry belonging to the agrrupation of unions – Banking Financial Union against BSP Circular 268 and its Related Succeeding Circulars (BFU 268) believe that “the widespread implementation of outsourcing (and) contractualization in the banking sector” affects their wage.

“In recent years, we see a plunge in the compensation to bank employees particularly members of the union who benefit under the CBA (collective bargaining agreement),” said Mark Oliver Gonzales, president of Planters Development Bank Employees Association (PDBEA).

Gonzales said “the rate of increase, actually, does not compensate the rate of increases in basic commodity prices.”

“Sector-wide, negotiations with bank management are being dragged provided meager counter-offers amidst the ballooning incomes of banks and financial institutions,” he said.

The group expressed support for the employees of Security Bank who are calling for substantial wage increase and additional benefits.

Security Bank Employees’ Union recently raised to the Department of Labor and Employment (DOLE) its issue on finishing the Collective Bargaining Agreement (CBA) on the negotiating table through filing of a Notice to Strike.

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