Arbitration News

Finance Workers in Oslo Protest Strike Ban

Finance workers in Oslo, Norway, demonstrated on June 12 to protest a government decision to ban a strike due to start that day. Demonstrating outside the Royal Castle, the workers were also protesting a lockout threatened by their employers—the banks and insurers.

The workers are campaigning to defend their pension rights as Norwegian insurance employers seek to cut the cost and benefits of their pension scheme. The dispute involves some 24,000 employees, and a strike would virtually shut down the Norwegian financial industry.

The government has appointed a seven-member arbitration committee to enforce a settlement in the dispute. Labour Minister Bjarne Haakon Hanssen said a special session of parliament would enact the legislation needed to force the parties into mediation. On June 10, talks between Finansforbundet and the employers’ federation failed to reach agreement. The government then intervened in the dispute as the first national banking strike in 30 years was threatened.

Contact our Utah Arbitration Lawyer Now!

	Did You Know?
	Arbitration is different than mediation. Mediation is a method of dispute resolution whereby the disputing parties achieve a mutually-satisfactory resolution with the assistance of a mediator. Unlike arbitration sessions, mediation sessions are not “decided” in favor of one party or another; rather, the mediator simply facilitates the negotiation process between the parties. Mediating parties are not bound to resolve their dispute (although mediated settlements, once reached, can be made binding if the parties decide to draft a contract called a settlement agreement). Arbitrating parties, on the other hand, receive a final decision from the arbitrator, which is either binding or non-binding depending on the terms of the arbitration agreement.