NEWS FEATURE
February 26, 2003
The management and the union of the Rizal Commercial Banking Corporation finally came to terms with each other recently, effectively ending months of speculation about any impending strike in the company, NCMB Exec. Director Rolando Rico C. Olalia announced today.
In his memorandum to Labor Secretary Patricia Sto. Tomas, Director Olalia said that both parties have finally forged an agreement for the resolution of the issues raised in the notice of strike.
It can be recalled that the union filed a notice of strike against the bank on 22 November 2002 due to the promotion to officer rank of 70 union members, a move interpreted by the union as a management ploy to weaken or undermine the union.
Salient features of the agreement include the holding in abeyance of the promotion of the affected employees pending resolution of the instant case by the Secretary. The agreement also provides that in the event that the Secretary issues a decision that is favorable to the Union, the Bank shall withhold union dues from the salaries of the concerned employees starting from the date of promotion to the date of the Secretary’s resolution and remit the same to the Union.
The Union further agreed not to stage any concerted action, strike or picketing in connection with the aforementioned issue.