Brazilian bank employees go on strike

A woman walks past a bank branch with posters reading "Bank employees on strike" in Brasilia on Oct 6, 2015. The employees of Brazilian banks went on indefinite strike in demand of a wage increase of 16%. 

PHOTO: AFP

OCT 7, 20157:02 AM

[RIO DE JANEIRO] Brazilian bank employees went on strike on Tuesday to demand a 16 per cent pay rise and better working conditions, their union Contraf-CUT said.

The strike affected state and private bank outlets across the country and was announced as indefinite. Workers are also demanding a greater share of profits.

Contraf-CUT said the vote to strike took place Thursday after workers rejected an offer from the employers' association of a 5.5 per cent pay rise.

The Brazilian Banking Federation (Febraban) said clients could still make withdrawals, deposits and other basic transactions through online banking, phone apps and cash machines.

Last October, bank employees went out on strike for a week, demanding a 12.5 per cent rise in pay and settling for a 8.5 per cent hike.

Brazil's five main banks - the private Unibanco, Bradesco and Santander, and the state-owned Banco do Brasil and Caixa Economica Federal - saw 60.3 billion reais in profits (S$22 billion at the time). That was an 18.5 per cent rise over the previous year.

AFP