Around 1,200 workers in the banking and finance sector ended their week-long strike Tuesday evening, after representatives for employers at Finans Norge and Norway’s largest trade union confederation LO came to terms. LO claimed it had prevailed in its demands.
LO had called the strike, which mostly affected the SpareBank1 chain, even after the vast majority of banks and insurance firms had avoided a major strike through mediation. LO was holding out not just for higher pay and pension adjustments but also matters of principle including the right to collective bargaining when at least 10 percent of employees at a company are organized in LO.
Finans Norge claimed that it prevailed in its demand that the collective bargaining take place at the parent company level and not at individual subsidiaries. Both sides agreed that the settlement drafted by a state mediator “modernized” terms of employment.
The strike had shut down several bank offices and delayed processing of insurance claims. Workers would be back on the job from Wednesday.