Workplace Report May 2009

European news

German banking settlement

A settlement has been reached for 250,000 employees in the German banking industry after 10 months of talks. It provides for a 2.5% increase back-dated to November 2008 and runs for 22 months from 1 July 2008 until the end of April 2010. There is also to be a one-off payment of €200 in February 2010.