China Bank, union ink 2-year CBA
(The Philippine Star) - January 4, 2016 - 9:00am

MANILA, Philippines - China Banking Corp. and China Banking Corp. Employees Association (CBCEA) have recently agreed on a new collective bargaining agreement (CBA) amounting to P511 million for two years. The 2015-2017 CBA provides for salary increases; improvements in insurance coverage, medicine and tellers’ allowances, rice and HMO (for dependents) subsidies, and bereavement and union leave benefits; a contract signing bonus, as well as a special one-time bonus for China Bank’s regular rank and file employees nationwide. Unanimously ratified by union members on Nov. 28, 2015, the new CBA is China Bank’s 24th in its 95-year history and the first under president and CEO Ricardo R. Chua. “The new CBA is a reflection of how we value our people and how we motivate them to work harder with a renewed commitment to China Bank,” Chua said. Outside of the total CBA package, management also approved the granting of a special bonus to China Bank staff regularized between Aug. 2, 2015 and Dec. 1, 2015, and the upgraded CBA benefits upon regularization to probationary employees as of date of ratification.

ACIRC BANK BONUS CBA CHINA CHINA BANK CHINA BANKING CORP CHUA EMPLOYEES EMPLOYEES ASSOCIATION RICARDO R
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