PRESS RELEASE – The Management of CIBC First Caribbean International Bank and officials from the National Workers Union (NWU) have completed industrial negotiations.

Clerical, technical and sales representatives from the company’s four (4) operational units on the island will benefit from the new industrial package.

The workers will receive a seven (7%) general wage increase spread over three (3) years: 2% in Year 1, 2% in Year 2 and an additional 3% in Year 3.

Arrangements are being made to implement the general wage increase within the shortest period of time while retroactive payments will be paid out in January 2016.

The parties are to meet shortly to affix signatures to the new industrial accord.