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Strike at Deutsche's Postbank as industry wage talks heat up in Germany

Friday, January 14, 2022
Strike at Deutsche's Postbank as industry wage talks heat up in Germany © Reuters. An illustration picture shows brochures of the Postbank AG on a table in Munich November 14, 2012. REUTERS/Michael Dalder

FRANKFURT (Reuters) - Employees at 40 branches of Deutsche Bank (DE:DBKGn)'s Postbank are staging brief strikes on Friday and Saturday as they bargain for higher wages, a union official said.

The so-called warning strikes come ahead of a crucial week of separate wage negotiations for the broader banking industry in Germany as inflation fears continue to mount.

Roman Eberle, of the Verdi labour union, said this week's strikes involve around 300 Postbank employees, and that inflation is a major concern for the 15,000 employees affected by the outcome of talks that began earlier this week.

Labour went into those talks seeking a 6% wage increase. They resume in February.

"Deutsche Bank regrets the union's early call for warning strikes after the first round of negotiations and will do everything to minimize the impact of the warning strikes on Postbank's customers," the bank said in a statement.

Deutsche Bank Chief Executive Officer Christian Sewing has himself warned about inflation, saying that it would "persist for longer" and that central banks needed to act "sooner rather than later" to counter it.

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27-01-2022 03:37:57 (UTC+7)

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 GBP/USD1.3417Buy
 USD/JPY114.93↑ Buy
 AUD/USD0.7079↑ Buy
 USD/CAD1.2701↑ Sell
 EUR/JPY128.71↑ Buy
 EUR/CHF1.0378↑ Buy
 Gold1,810.20↑ Sell
 Silver23.203Buy
 Copper4.4657↑ Buy
 Crude Oil WTI87.32↑ Buy
 Brent Oil88.66↑ Buy
 Natural Gas4.088↑ Buy
 US Coffee C238.13↑ Sell
 Euro Stoxx 504,108.45Neutral
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 DAX15,226.80Neutral
 FTSE 1007,461.40↑ Buy
 Hang Seng23,702.87↑ Sell
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 IBEX 358,580.23↑ Buy
 BASF67.700↑ Buy
 Bayer51.57Buy
 Allianz224.93Neutral
 Adidas240.50↑ Sell
 Lufthansa6.974Buy
 Siemens AG137.92↑ Sell
 Deutsche Bank AG11.855Neutral
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