Luminor Trade Union reach agreement with Bank
After three years of struggles, the Trade Union of Luminor Bank in Estonia reached an agreement with the Bank on January 26. This is a big achievement for the Trade Union in Luminor and new start to have real and genuine social dialogue.
The Trade Union in Luminor represents about 65% of the entire staff of the Bank. The two years agreement reached covers new conditions for all the workers and in particular, the redundancy packages are now better than forseen under Estonian legislation. It was also established in the agreement that the Trade Union and the Bank have regular meetings.
Michael Budolfsen, President of UNI Europa Finance, said: “This is good news for the Trade Union movement in the Finance sector in the Baltics and in particular in Estonia. It has demonstrated that only with the strong commitment of the Trade Union and the full support and solidarity from UNI Europa Finance affiliates, it was possible to reach an agreement with Luminor”.
Tanel Erik Podar, Chairman of the Association of Estonian Financial Sector Employees, added "The agreement signed with Luminor is a first of its kind in the history of Estoninan banking sector. We strongly appreciate the support received from UNI during the past 3 years, which contributed greatly to this achievement. This aggreement is a great example of constructive employer-trade union relationships and something to build on with other Estonian banks."