Indefinite strike averted
More money and security for 12,000 Postbank employees
May 2, 2024, 4:19 p.m
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Breathe a sigh of relief for employees: the indefinite strike at Postbank will not come, Verdi and the employers agree on a collective agreement. This brings employees more money and longer-term protection against dismissal. But there is also good news for customers.
The collective bargaining dispute at Postbank was resolved after almost three months. In the fifth round, unions and employers agreed early on Wednesday morning on salary increases in two stages and protection against dismissal extended until the end of 2027. Verdi and the German Bank Employees Association (DBV) as well as Deutsche Bank announced this on Thursday. Customers can therefore breathe a sigh of relief: Both unions were voting on indefinite strikes at Postbank. Warning strikes had repeatedly caused service restrictions in the collective bargaining round that had been ongoing since February 6th.
According to the unions, the approximately 12,000 employees in the Deutsche Bank Group will receive 7.0 percent more money with a Postbank collective agreement from June 1, 2024, but at least 270 euros. From July 1, 2025, standard salaries will increase by a further 4.5 percent. Employees can decide each year whether they want to take four weeks of additional vacation per year in exchange for a corresponding pay waiver. The collective agreement runs until March 31, 2026. A Deutsche Bank spokesman said: “This agreement is already taken into account in our financial planning and does not change our cost targets for this year and next year.”
Job security until the end of 2027
Deutsche Bank accommodated the unions when it came to a core demand: the protection against dismissal, which was originally limited to the end of January 2024, will now be extended until December 31, 2027. The financial institution is thus ruling out operational-related dismissals for collective bargaining employees in the area of its private customer bank in Germany until then. Long-term job security was very important to the unions because of the planned branch closures.
Deutsche Bank announced in the fall that it planned to close up to 250 of the 550 Postbank branches by mid-2026 and also reduce staff. According to Verdi, a location guarantee has now been agreed for around 320 Postbank branches, as well as the establishment of eleven new regional advice centers to create replacement jobs for employees.
Verdi wanted to achieve a 15.5 percent increase in salaries for its employees, but at least an increase in monthly salaries of 600 euros. The DBV had demanded 14.5 percent more money for employees at Postbank, Postbank branch sales, PCC Services and BCB.