Republic Bank workers to decide their fate on ‘profit sharing’

The Bank and General Workers Union is conducting a poll at Republic Bank Grenada to determine what outcome the workers would like to have to the current impasse regarding profit-sharing.

The Bank and the Union have been negotiating a new Bargaining Agreement since August 2011.

However, discussion between the Union which represents some 200 workers and the bank’s management has been deadlocked over one month now, on the issue of profit-sharing.

Previously, employees of the bank were entitled to 15% of the bank’s profits annually, however the bank is now proposing a 1% or EC$500- a figure which the Union and workers said it was not prepared to take.

The negotiations were eventually negotiated by acting Labour Minister Glen Noel who has recommended 10%.

Workers are being polled to determine which of the two recommendations they will finally accept.

President of the Bank and General Workers Union Justin Campbell says the outcome of the poll should be known during the course of the day on Friday.

The poll began on Wednesday and is being carried out at all of the bank’s branches including the branch at Carriacou.

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