Ayala-owned bank BPI Dispute with Labor Settled; BPI workers get P510 M economic package

The Department of Labor and Employment (DOLE) today said the labor dispute
at the Bank of Philippine Islands (BPI) was settled benefitting 3,800 BPI
workers in the National Capital Region who stand to receive a total of P510
million economic package covering a three-year period from April 1, 2009 to
May 31, 2011.

Labor and Employment Secretary Marianito D. Roque said the BPI Employees
Union - Metro Manila and the BPI management signed an eight-point agreement
that resolved the deadlock in collective bargaining agreement (CBA)
negotiations between the two parties.

Roque cited the National Conciliation and Mediation Board (NCMB) for
expediently resolving the deadlock following an almost 10 hours of
conciliation hearing last Sept. 2.

Citing a report from NCMB-NCR, Roque said the parties agreed to a total of
P2, 500.00 monthly wage increase - P700.00 effective April 1, 2009,
another P700.00 effective October 1, 2009, and P1,100.00 effective April 1,
2010.

The agreement also provides for a signing bonus of P9,000.00 per covered
employee, a one-time financial assistance of P6,000.00 per covered employee,
and another monthly financial assistance of P50.00 effective April, 2009.

An additional daily COLA of P50.00 effective April 1, 2009 and another
P100.00 effective April 1, 2010 shall also be provided to the workers.
The agreement also provides for uniform allowance, holiday pay, and a
maximum of P120,000.00 maternity benefits.

Based on the NCMB report, the BPI Employees Union - Metro Manila filed a
notice of strike with the NCMB on July 20, 2009 following the deadlock in
CBA negotiations with BPI management on economic and non-economic issues
covering 2009-2011. Conciliation conferences with the parties were
subsequently held leading to the settlement of their CBA deadlock last Sept.
2, 2009.