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Banks, Unions Set New Talks In Brazil’s Bank Strike

September 30th, 2009

brazil_realUnions and bankers will make another attempt to bring Brazil’s week-old bank strike to an end with a new set of talks set for Thursday morning, said spokesmen for both sides on Tuesday.

The nationwide?strike has had spotty effects, with banks operating normally in small states and rural areas but shutting down many banking operations in big cities.

So far, the strike has had little effect on financial exchanges. Effects on consumers are varied, with many able to use electronic transfers and automated teller machines but others inconvenienced by the inability to pay bills or take out loans.

Unions are demanding a 10% wage?hike, revisions in profit-sharing agreements and job guarantees from banks in the event of future mergers or acquisitions. Representatives of the National Bankers Federation have offered a 4.5% wage hike, in line with the current inflation?rate, and minor changes to profit- sharing plans.

By Tom Murphy, Dow Jones Newswires

http://www.nasdaq.com


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