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Sri Lankan public banks unions secure hard-won agreement for 20,000 bank workers
UNI Global Union’s oldest and largest affiliate in Sri Lanka, the Ceylon Bank Employees Union (CBEU) signed a series of collective agreements on 16 July with the management teams of four state owned banks, improving conditions for over 20,000 bank workers struggling with the high cost of living.
The negotiations over the terms of the deals, which cover the years 2024 to 2026, were completed nine months ago, but before the banks’ respective managements could sign the deals, the agreements hit an unexpected obstacle – getting the necessary permission from the Ministry of Finance and Treasury officials. The officials hesitated to green light the agreements, citing economic difficulties and the need to adhere to IMF conditions on reduced public spending.
Read more: Sri Lankan public banks unions secure hard-won agreement for 20,000 bank workers
