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Monte de Piedad Seeks Government Arbitration to End Six-Month Strike

A binding ruling would bypass stalled talks over who controls vacancy assignments.

Overview

  • The lender, which asked the Labor Ministry and the federal conciliation center for binding arbitration Thursday, is seeking a decision both sides must follow.
  • Management’s latest offer includes a 5.3% pay raise, a bonus worth 52% of base pay for ending the strike, reinstating 50.5% of first‑round vacancies, a 20‑month gradual staffing plan, and pay scales for three new roles.
  • The core fight is over “boletinación,” the system for filling open jobs, with the company pushing an automated, transparent process and union leaders resisting the loss of control over assignments and promotions.
  • A federal judge declared the strike legally nonexistent on February 20, and the union’s appeal to a collegiate court keeps the stoppage in place until that review decides if work must resume or the strike can continue.
  • More than 300 branches remain closed, customers are told to use official channels for payments due to reported fraud attempts, and items in vaults stay secure but cannot be retrieved until operations restart.