SAO PAULO, Oct 2 (Reuters) - Bank industry workers in São Paulo, Brazil’s most populous and richest state, plan to strike for an indefinite period starting Tuesday, after rejecting a pay proposal for the upcoming year.
The union late on Thursday shunned a proposal by the National Banking Federation for an inflation-adjusted salary increase of 5.5 percent. The union sought a raise north of 16 percent.
The federation, also known as Fenaban, proposed larger profit-sharing, though that was rejected by the union. Usually banks and unions tussle over future pay raises at this time every year, with short-lived strikes that fail to disrupt services.
Banks are slated to post record earnings this year, partly because of efforts to streamline their operations in the wake of the steepest recession in a quarter century.
Workers are demanding that those efforts, which have resulted in the early retirement or dismissal of thousands of employees this year, be stopped. (Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama)