Both managerial and clerical staff at CIBC FirstCaribbean International Bank have been granted a 4.5 percent salary increase following several days of discussions and industrial action.
On February 18 and 21, staff at the bank’s Old Parham Road branch did not perform regular duties on and voiced their unwillingness to accept the bank’s offer of a 2.5 percent increase payment of which would have been spread over a period of three years.
During the demonstration of industrial action, the Antigua and Barbuda’s Workers Union (ABWU), the staff’s collective bargaining agent held discussions with the bank’s leadership.
ABWU confirmed in a media statement on Friday that the parties settled on the 4.5 percent increase, which will begin with “a salary freeze in the first year of the Collective Bargaining Agreement, followed by a 2.25 percent increase in the second year and another 2.25 percent increase in the third year”.
The union advised that The Collective Bargaining Agreement will cover the period January 1, 2021 to December 31, 2023.
General Secretary of ABWU, David Massiah indicated that discussions on several other items included in the current Collective Bargaining Agreement, such as remote working, will continue despite the end of salary negotiations.