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Last Updated: Thursday, 21 June 2007, 13:30 GMT 14:30 UK
Unions meet Barclays over ABN bid
ABN Amro bank branch
Unions want to see no compulsory redundancies after any takeover
Unions are to take part in talks with Barclays to discuss its takeover proposal for Dutch-based ABN Amro bank.

Talks for the union side are being coordinated by UNI Finance, part of the UNI global union that represents three million finance workers worldwide.

The invitation to talks came from Barclays' chief executive John Varley.

Unions are concerned at the impact of any takeover on jobs, with the Barclays-ABN Amro link-up envisaged to affect more than 23,000 positions.

During the talks, the unions will be pressing Barclays for no compulsory redundancies, preserving collective agreements and working conditions, and seeking a new European Works Council for a merged bank.

They will also be seeking "a global agreement between the bank and UNI Finance to ensure union rights around the world, group-wide dialogue on integration if the merger goes ahead, and effective information and consultation".

In April, Barclays agreed to merge with ABN Amro in a deal worth 45bn (66bn euros; $90bn).

The move would create one of the world's biggest banks, valued at 94bn, with its headquarters in the Netherlands.

The companies said about 12,800 jobs would be cut as a result of any merger, with a further 10,800 jobs moved to low-cost locations.

Since then, there has been a counter-bid, with an RBS-led consortium unveiling a proposed 71.1bn-euro ($96bn; 48.1bn) offer for ABN Amro.

Barclays dismisses ABN bid fears
12 Jun 07 |  Business
RBS outlines offer for ABN Amro
29 May 07 |  Business
Barclays agrees 45bn Dutch deal
23 Apr 07 |  Business

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