The Commercial Bank of Ceylon PLC entered into a fresh Collective Agreement and a Memorandum of Understanding (MoU) with the Ceylon Bank Employees’ Union (CBEU) as one of its first acts of 2024, reaffirming the Bank’s unwavering commitment to ensuring better employee terms and conditions and to maintaining an efficient and productive working environment through cooperation between the Bank, the Union and employees.
The Collective Agreement covers and binds the Commercial Bank of Ceylon, the CBEU and members of the Union employed on permanent contracts of employment by the Bank in the Grade of Executive Assistants and Allied Grades and Non-Executive Grades, the Bank said.
A Memorandum of Understanding was signed between the two parties covering and binding the employees in the Grade of Executive Officers.
The signed Collective Agreement and MoU will be effective till December 31, 2026.
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