The agreement brings to an end a months-long labour dispute involving about 650 staff in Berlin and Essen at the call centre unit DB Direkt.
The deal envisages the gradual introduction of a 13th month of pay, a one-time payment and wage increases that average out to be around 2.7% per year.
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The strike took place over 13 weeks as the bank announced that it was rewarding some staff for a pandemic-related trading boom with a 29% increase in the bonus pool for last year.
The call centre employees are among the lowest-paid at the German bank, with starting wages of around 12 euros ($14.47) an hour, according to union officials.
Union officials said the strike was disruptive, creating long waits for customers trying to get through to the bank. They argued that call centres had grown in importance during the coronavirus pandemic.
Initially, workers sought a 6% pay increase, while the bank offered pay increases of 1.5% in two rounds.
Deutsche Bank did not immediately comment.
Posted by Veronica Silva Cusi, news correspondent
About Deutsche Bank:
Deutsche Bank AG (literally "German Bank"; pronounced [ˈdɔʏtʃə ˈbaŋk]) is a German global banking and financial services company with its headquarters in the Deutsche Bank Twin Towers in Frankfurt. It has more than 100,000 employees in over 70 countries, and has a large presence in Europe, the Americas, Asia-Pacific and the emerging markets. In 2009, Deutsche Bank was the largest foreign exchange dealer in the world with a market share of 21 percent.
Published: Monday, April 26, 2021
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