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German union calls for ATM workers strike

January 2, 2019

Verdi, Germany's United Service Trade Union, has called for a strike of its 12,000 cash transport workers today in hopes of securing a €1.50 ($1.701) hourly wage gain, according to Quartz. The increase would amount to around €250 ($283.511) per month and would equalize wages throughout Germany.

Banks machines were replenished on Jan. 1, minimizing the immediate impact of the strike. However, the country's dependence on coins and notes could create major consequences. Arno Puekes, union negotiator, said the union will extend the strike if negotiations fail. 

When cash handlers struck in 2015 when the union was seeking improved high-risk insurance, some ATMs ran out of cash. One bank asked customers to seek cash at its counters.

The union could, however, be losing leverage since as cash has begun losing ground to debit cards. Cash as a portion of overall turnover dropped below 50 percent in 2017.