Attempt at bringing Nordea and employees back to the table fails, union announces protests ({{commentsTotal}})

Nordea Estonia employees picketing the bank's Stockholm headquarters. January 2017.
Nordea Estonia employees picketing the bank's Stockholm headquarters. January 2017. Source: (ERR)

Representatives of Nordea as well as its employees met with the state’s mediator to find a way back to negotiating a new collective agreement, but didn’t manage to get to a mutual understanding.

Nordea insisted on its position published in November last year that the upcoming merger with DNB Bank did not allow for a long-term agreement to be signed, and that talks with employees under such an assumption had been a mistake, the union of Estonian financial sector employees EFL announced on Wednesday.

Nordea’s representatives learned only during the ongoing negotiations that the merger would bring with it several restructuring measures across the merged bank’s different departments. What exactly the result and effects of these measures would be the management couldn’t yet say. The employees’ representatives are accusing Nordea of not having taken any steps to lessen the effect of the merger on employees. Also, the bank had not included the union in the work groups preparing for the merger.

According to EFL, Nordea’s stated intent to find a solution is no longer credible. Because of this, the union is planning several efforts in Estonia as well as abroad to make its disagreement with the current situation visible.

Already in January this year Nordea’s employments picketed the bank’s Stockholm headquarters, following the bank’s interruption of all negotiations of a new collective agreement already in November 2016.

DNB Bank and Nordea are planning to conclude the merger in the second quarter of this year. The new bank’s management will be headed by Erkki Raasuke. Raasuke, recently figuring prominently in several government work groups and committees, so far has refused to comment the situation.

Editor: Editor: Dario Cavegn

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