BDO, employees union ink CBA

MANILA, Philippines - BDO Unibank Inc. and the Banco de Oro Employees Association-National Union of Bank Employees (BDOEA-NUBE) have signed their collective bargaining agreement (CBA) for 2013-2015. The remaining two years of their CBA contains renegotiated provisions, paving the way for enhanced economic benefits for the bank’s 12,000-strong rank-and-file employees. Topping the economic package is a wage increase retroactive Nov. 1, 2013 equivalent to two percent of basic pay plus P1,800 on Nov. 2014, the adjustment will be one percent of basic pay plus P1,500; and financial assistance ranging from P1,000 to P8,000 depending on tenure; among other benefits. BDO chair Teresita Sy-Coson lauded the CBA as a testament to the employees’ dedication and commitment to service and the joint vision of “social partnership.”