Go to the Globe and Mail homepage

Jump to main navigationJump to main content

A resident walks in front of a closed bank in downtown Rio de Janeiro Sept. 18, 2012. Workers at Brazilian banks began a strike on Tuesday. (SERGIO MORAES/REUTERS)
A resident walks in front of a closed bank in downtown Rio de Janeiro Sept. 18, 2012. Workers at Brazilian banks began a strike on Tuesday. (SERGIO MORAES/REUTERS)

Brazil’s bank workers begin nationwide strike Add to ...

Brazil’s bank workers began a nationwide strike on Tuesday over demands for better pay and working conditions, according to national financial-sector workers’ union Contraf.

The workers’ demands include a nominal wage increase of 10.25 per cent, a profit-sharing agreement, better health and working conditions and better security.

More Related to this Story

On Aug. 28, Brazil’s national banking federation Fenaban offered a 6-per-cent nominal wage increase amounting to a 0.5-per-cent rise after accounting for inflation – a package the union rejected as “insufficient.”

Bank shares fell across the board on Tuesday on Brazil’s bourse. Shares of Itau Unibanco, Brazil’s largest non-government bank, slipped 1.36 per cent, while those of rival Bradesco fell 1.23 per cent. Shares of state-controlled Banco do Brasil dropped 1.67 per cent.

Brazil’s benchmark Bovespa index little changed, up just 0.05 per cent at 61,837.00.

Follow us on Twitter: @GlobeBusiness

 
Security Price Change
BBD-N Banco Bradesco SA 15.88 -0.11
-0.688 %
Add to watchlist
Live Discussion of BBD on StockTwits
More Discussion on BBD-N

Topics:

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories