Bank Workers Accept 8.5% Wage Increase, End Strike

Brazilian bank workers in most regions of the country voted to accept a proposed pay increase and end a strike begun last week, union leaders said Tuesday. Workers voted to accept a wage increase of 8.5% proposed by the National Bank Federation (Fenaban) after rejecting a previous proposal for a 7.35% increase. Workers had originally sought a wage increase of 12.5%. The lastest agreement also included an increase in a worker meal allowance of 12%. The weeklong strike forced customers around the country to seek banking services at non-bank locations, including online, at ATMs, and at supermarkets, lottery agencies and post offices. Brazilian bank workers last held a strike in October 2013, which lasted for more than 20 days. Brazilian workers have seen pressure to seek wage increases this year in response to inflation that has run at near the 6.5% top end of the country’s official inflation targeting band. While the latest agreement ended the strike in most major cities, workers in some regions of the country, such as Curitiba, Porto Alegre, Roraima and Parnaiba, maintained work stoppages to hold out for further benefit increases.