BDO signs 5-year CBA

MANILA, Philippines - The Banco de Oro Unibank Inc. (BDO) has signed a five-year collective bargaining agreement (CBA) with the 12,000-strong Banco de Oro Employees Association (BDOEA), an affiliate of the National Union of Bank Employees (NUBE).

The CBA, which covers the period 2010-2015, offers among others a wage increase on the first year equivalent to 2.5 percent of basic pay plus P1,550; on the second year , 1.5 percent of basic pay plus P1,350; and on the third year, 1.5 percent plus P1,150.

 It also offers a signing bonus equivalent to 150-percent of basic pay not lower than P16,000. Also a longevity pay amounting to P300 for those who have been employed for at least 10 years, P200 for those who have been employed from six to nine years, and P100 for those who have been employed from three to five years.

A unique good customer service incentive (new benefit) is offered equivalent to 20 percent of basic pay but not to exceed P10,000. And an HMO subsidy amounting to P5,000 on the first year, P6,000 on the second, and P7,000 on the third year.

Other benefits are: retirement/gratuity, which has been adjusted with an additional 47 percent of basic pay; maternity allowance amounting to P7,500 for normal delivery and P15,000 for caesarean section; labor day allowance of P300 per year, and, assistance to union for local/foreign seminars amounting to P350,000.