STEC says CGD results exceed 1000 million and invites union delegates for the 16th

STEC, the most representative trade union organization of CGD workers, will be at a gathering of trade union delegates – next to the CGD headquarters – João XXI Street.

“A few days before the presentation of the results of the fiscal year 2023, in which the bank will certainly set a record, easily exceeding one billion euros, it is unacceptable and incomprehensible that the CGD management insists on trying to deepen and exacerbate the loss of purchasing power of workers and retirees, betting on a continued decline in their incomes, In the past five years alone, their net salaries decreased by about 5.9%.

CGD is scheduled to present its annual results at the beginning of March.

STEC management informs that “given the moment when the Bank is witnessing an alarming and widespread deterioration and deterioration of working conditions, exacerbated by the apparent inability to negotiate of the CGD management in the ongoing salary negotiation process, it has decided to call a meeting of the National “Council of Union Delegates” on the 16th. February, and its conclusions will be immediately handed over to the management which will be attended by union delegates, who will meet for this purpose in front of the CGD headquarters at 12:30 p.m.”

STEC speaks of the “insensitivity of this management”, which can also be seen by analyzing the percentage of personnel costs in relation to the product of the activity, which between 2016 and 2023 decreased from 45.6% to only 17.3%, that is, and was reduced by 62%, Which led to the crushing of employee costs, which in turn objectively leads to obtaining large profits at the expense of deteriorating workers’ wages (Source: CGD report and accounts 2016 to September 2023).”

“CGD workers, pensioners and retirees can count on the firm stance of STEC, ensuring that we will not sign unfair salary update values ​​and recognize the huge profits made that allow to mitigate the loss of purchasing power that has been bothering them in recent years,” the statement says.

The next negotiation meeting between STEC and CGD is scheduled for tomorrow, 15 February.