`No Layoffs at Merged Banks' _ Gov't Pledges Ahead of Strike _
While bank labor union members were confirming their plan to go on a full strike through a vote, the government pledged there would be no further layoffs at banks that might be merged.
Source : Korea Herald
While bank labor union members were confirming their plan to go on a full strike through a vote, the government pledged there would be no further layoffs at banks that might be merged.
Financial Supervisory Commission Chairman Lee Yong-keun said, ``There will absolutely be no staffing cut and other downsizing resulting from any forced merger.''
He said the projected holding company bill is designed to promote the integration of banks to achieve synergy, and not simply merging of the banks.
Lee unveiled the government policy after he met bank chiefs to discuss how to cope with the projected strike by financial unionists who are protesting what they claim are forced mergers.
``The unions are going to resort to such extreme action as strike because they are not fully aware of the basic spirit of the financial holding company bill,'' he said.
During the meeting with the heads of 25 banks at the Bankers' Club, Lee said, ``It is certain any additional layoffs or downsizing is not being considered. The government will strive to help the unionists understand this government's firm policy.''
Lee pointed out the government and the unionists have come closer to the rallying point at the Tripartite Committee (government, management, labor) on June 29 and that they would set up a body to adequately address possible problems.
The bank presidents also pledged to persuade the unionists to refrain from going on a full strike, expressing deep concerns about the possible fall in the nation's credit rating as a result of the walkout.
In the meantime, financial unionists at banks across the nation, except a few, yesterday started balloting to decide on whether to walk out or not.
The final result of the balloting would be announced Tuesday, the Korea Federation of Bank and Financial Labor Unions (KFBU), the organizer of the planned strike, said.
However, Hana Bank and KorAm Bank employees decided not to participate in the strike.
The two banks decided not to join the protest against government-led mergers among banks because they are not likely to be included as they have already signed a cooperation agreement between themselves, industry sources said.
Union employees at Hana Bank had expressed opposition to the strike in a June 22 vote and saw no need to participate in yesterday's vote to decide whether KFBU should launch begin general strike on July 11.
KorAm Bank unionists also decided not to join the strike since it is not a KFBU member and its employees do not share the same concerns as the strikers.
The labor union at Shinhan Bank decided to postpone its vote until Thursday since a consensus had not yet been formed among union members.
As pointed out at the meeting of bank heads and the FSS chairman, the matter of the financial holding company was the main cause of the pledged strike.
Financial workers also flatly claim that behind the planned introduction of the holding company formula is the fact that the government is in a hurry to collect public funds as soon as possible.
``The government's intention is clear. It is planning to sell the holding company to foreigners at a rock-bottom price after downsizing organizations and manpower,'' Choi Kyu-duck, KFBU policy manager, said.
Among other things, the fact the financial holding company might result in pink slips being shown to them would make them more nervous.
On the other hand, the government is persuading the banks that the introduction of financial holding company should promote competitiveness.
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