LABOUR officials have successfully resolved a protracted industrial dispute between the 1st National Bank and the National Workers Union (NWU).
Labour Minister Dr Virginia Albert-Poyotte has announced that both parties have accepted her recommendations, leading to a decisive resolution of the issue. A few months ago, the situation escalated into significant protests and strike action by employees of the 1st National Bank.
Dr Albert-Poyotte, who facilitated the mediation, emphasised that this was a complex process requiring both parties to reach a mutually agreeable solution regarding specific terms and work conditions.
“The National Workers Union has formally communicated its acceptance of my determination, as has the 1st National Bank,” the Labour Minister stated at a media briefing on Monday.
The dispute originated from the 1st National Bank’s acquisition of the Royal Bank of Canada, which resulted in employees facing “additional responsibilities” in the transition to the new entity.
Dr. Albert-Poyotte acknowledged employee concerns about pay disparities between 1st National Bank and former Royal Bank of Canada employees. The union demanded an additional $600.00 per month for each employee.
However, the bank claimed this was financially unfeasible given its limited resources. The Labour Commissioner intervened, suggesting an increase of $400, but the bank still deemed that amount “not affordable” due to its narrow profit margins.
Dr. Albert-Poyotte took charge of the situation and emphasized that productivity would not improve without resolving the underlying issues that led to the dispute. The union insisted on a job evaluation to ensure that their members receive equitable remuneration compared to other bank employees.
After negotiations were stalled, the Labour Minister insisted on a resumption of discussions. She pressed the bank to expedite the job evaluation process and set a deadline for resolution.
Following a thorough review, Dr. Albert-Poyotte reported that the bank has made progress in addressing these concerns, and has personnel dedicated to the job evaluation, and is back at the negotiating table. She announced a $250.00 compensation award for affected employees, effective from January 2024 to the present date. Ultimately, the bank recognized the necessity of meeting these requests, considering it a manageable agreement. Dr. Albert-Poyotte concluded, “The workers emerge positively from this process, standing firmly in their right to a job evaluation. Those who qualify will be re-classified and may also see a pay increase as part of the negotiations that have been agreed upon by both the bank and the union.” She commended the collaboration of both parties, highlighting that their cooperation is vital for creating a constructive working environment for all.