Verdi's Crusade Against Postbank Branch Closures
The labor union Verdi is escalating its crusade against Deutsche Bank, vocalizing its disapproval over the financial giant's decision to close nearly half of Postbank's branches. With demonstrations planned in Fürth, Dortmund, and Berlin, this union is one to watch in the coming weeks.
The announcement came on Monday, with Verdi expecting a grand total of over a thousand employees to partake in the protests. Deutsche Bank, Postbank's parent company, revealed its intention to close up to 250 branches by mid-2026, leaving no stone unturned when it comes to job cuts. Claudio de Sanctis, Head of Private Customers, stated that job cuts are inevitable. Negotiations regarding the exact number of layoffs are currently underway between the bank and employee representatives.
Verdi's primary demands focus on securing jobs and extending the protection against dismissal under the collective agreement at the earliest opportunity. Such protection is currently in place until January 31, 2024, but potential layoffs within the banking sector are still under close scrutiny.
The union's demands to tackle job losses extend beyond Postbank. Verdi is seeking discussions with Deutsche Bank, a move driven by the bank's closure of Postbank branches, which will inevitably result in layoffs. The ongoing controversies surrounding potential redundancies at Deutsche Bank make this union's demands all the more pressing.
Amidst the looming job losses, Verdi is continuing its fight for better wages and working conditions. The union's latest strikes and demonstrations are not limited to the Postbank and have reached various sectors, including public transportation and healthcare.
Despite the significant financial challenges Deutsche Bank is currently facing, the bank's plans for Cost-Cutting Measures have ignited a storm of controversy. A drop in full-year profits and a re-evaluation of targets are changing the landscape for the banking giant, and potential branch closures are at the forefront of these discussions.
In the face of these challenges, Verdi's crusade against Deutsche Bank and its plans for Postbank branch closures is just the beginning, with demonstrations and negotiations set to continue in the coming weeks. The union's fight for jobs, wages, and better working conditions remains a significant force in the current issues facing German labor and finance.
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- Ongoing Strikes: Verdi has called for multiple strikes and demonstrations across various sectors, including public transportation, postal services, and healthcare, demanding better wages and working conditions.
- Postal Services: There have been reports of strikes at the Postbank, with Verdi calling for further action, including a strike scheduled for this week.
- Financial Performance of Deutsche Bank: Deutsche Bank has faced significant financial challenges, including a drop in fourth-quarter and full-year profits due to legal provisions and restructuring costs. This has led to a re-evaluation of the bank's cost targets and potential business closures.
- Union Demands: Verdi is pushing for higher wages and better working conditions, which could be related to the potential job losses at Postbank branches if Deutsche Bank proceeds with its planned closures.
