Italian finance unions win big with new national collective agreement

UNI Global Union Finance affiliates in Italy are celebrating a renewed and strengthened national collective agreement for some 280,000 workers in the banking sector. The agreement sees significant pay rises, an increase in paid training, a reduction in working time and new protections against violence and harassment.

UNI affiliates FABI, FIRST-CISL, FISAC-CGIL, UILCA and UNISIN said the new deal “provides for strong economic recognition, new protections for workers and the introduction of tools necessary to manage the changes in the sector resulting from technological innovation and digitalization.”

Workers will benefit from an average pay increase of €435 a month applied in four tranches over the term of contract, which expires on 31 March 2026. From 1 July 2024, working hours will be reduced by 30 minutes to 37 hours per week, while employees will also benefit from lunch vouchers with a greater minimum value rising from €1.81 to €4.

The number of hours of paid training and upskilling, including on technological innovation, will also be increased from 32 to 37 hours a week.

A previous protocol on violence and harassment is now included in the national agreement and the National Safety Commission will now be tasked to cover work-related stress, among several improvements.

 UNI Finance Head of Department Angelo Di Cristo said: “This agreement once again shows the strength of our affiliates in Italy who have achieved significant gains in their renewed collective agreement. It sets a precedent for finance workers around the world who are dealing with many of the same issues such as digitalization and increasing levels of violence and harassment at work.”