Wednesday, January 29, 2014

Negotiations with IBA failed - Two days strike on 10th & 11th Feb 2014

Negotiations held between UFBU and IBA  held on 27 th Jan 2014 failed,  as  IBA improved their offer by .50% (i.e.10 % instead of earlier offer of 9.50%) .  The final offer of 10% is  on payslip component excluding superannuation and other costs.  The reason once again cited for this lower offer was the stress on the balance sheets of  various  banks.  UFBU rejected the offer made by IBA instantly. Immediately in the meeting of constituents,  UBFU decided to go on strike on 10th and 11th Feb 2014 and served strike notice on IBA.

Source : AIBOC website

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