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07.12.2005

Austrian Supreme Court confirms new internal service regulations of Bank Austria Creditanstalt

Today the Austrian Supreme Court has confirmed the legal validity of the "Internal Service Regulations 2005", which were introduced by Bank Austria Creditanstalt (BA-CA) in April 2005. In December 2004, the Austrian Association of Banks and Bankers and the Austrian Union of Private-Sector Employees had filed a petition with the Austrian Supreme Court for a declaratory judgment. On 1 April 2005, after one year of negotiations with the Employees' Council, BA-CA introduced the new internal service regulations for about 10,000 employees of BA-CA in Austria. The objective was to replace the regulations contained in the Internal Service Agreement of 1969 (BV 69), which were no longer up-to-date, with modern and performance-oriented rules.

With the Internal Service Regulations 2005, BA-CA has modernised the service regulations for employees and placed them on a sustainable basis for the coming years. BA-CA has introduced moderate transition rules for current employees and offers attractive internal service regulations and an attractive remuneration system for new employees joining the bank.

While in the end the Employees' Council of BA-CA did not support the Internal Service Regulations 2005, most of the rules are based on ideas and principles jointly develope during negotiations.