Increase of the gross minimum basic salary per country guaranteed in payment
On 28 November 2024, the Government Decision no. 1506/2024 for the establishment of the gross minimum basic salary per country guaranteed in payment entered into force (the "Decision").
According to the Decision, as of 1 January 2025, the gross minimum basic salary per country guaranteed in payment (not including bonuses and other allowances) will be RON 4,050/month for a normal working schedule averaging 165.334 hours/month, representing RON 24.496/hour.
Extention of the application of the collective bargaining agreement to the banking sector
On 28 November 2024, the Government Decision no. 1500/2024 on the extension of the application of the provisions of the Collective Bargaining Agreement at the level of collective bargaining sector 40 - Banking Activities, registered with the Ministry of Labor and Social Solidarity under no. 857 of 13.05.2024 and published in the Official Journal of Romania, Part V, no. 4 of 7 June 2024 (the "Collective Bargaining Agreement") to all units in the sector also entered into force.
The application of the provisions of the Collective Bargaining Agreement is to be extended from 28 November 2024 to 12 May 2025. The units in Collective Bargaining Sector 40 - Banking Activities whose collective bargaining agreements are still in force shall consider aligning with the measures provided for in the Collective Bargaining Agreement in the negotiations that will take place when the collective bargaining agreement at unit level expires.
The benefits provided by the Collective Bargaining Agreement include: the granting of severance pay according to seniority in the company in the event of redundancy for reasons not related to the employee, the granting of financial aid for special events (e.g. the birth/adoption of a child, the death of the employee or a member of his/her family), and the granting of a retirement bonus that cannot be less than the value of an individual gross monthly salary.
