MILAN (Reuters) - Italian banks and the sector's unions on Thursday signed a new labour contract that will increase workers' pay on average by a gross 435 euros ($474) a month starting from December, the main banking union said.
From July 1, 2024, the working week for the sector's 270,000 staff will also be cut by half an hour to 37 hours in total, the FABI union said.
Workers will also get 1,250 euros each as partial compensation for the months during which the new contract was negotiated after the old one expired at the end of 2022.
"We've given back shine and importance to a category of workers that somebody was intent on flattening," FABI said in a statement. ($1 = 0.9168 euros)