04/12/2023

CIBC FirstCaribbean and NWU Sign CLA for the Next four Years

By CIBC

The Management of CIBC FirstCaribbean Bank and the National Workers Union (NWU) have signed on the Memorandum of Agreement (MOU) for the four-year period 2021 – 2024.  Negotiations on the collective agreement had been ongoing between the two parties from late 2020, with agreement reached in August 2023, and the formal signing concluded in September. 

Prior to the new agreement, CIBC FirstCaribbean and the NWU previously had three-year Collective Labour Agreements (CLA). The impact of the COVID pandemic influenced the move to a four-year agreement.    The industrial package makes provisions for industrial concessions which will continue to focus on supporting a healthy, harmonious and productive working environment for the Bank’s valued employees.

Officials from the signing parties expressed their satisfaction at the successful conclusion of the negotiation process and the environment of cordiality and respect between the parties which has made the process productive.