141–150 of 183 posts
Seems like a good thread to ask then: What other digital bank options are there that are primarily EU based? N26 was the only one I found. I keep seeing things like Monzo, Monese, Revolut but they're all UK based. Don't think they'd be too impacted by Brexit but nevertheless I'm looking for an EU-first solution.
Any recommendations for digital banks that aren't terrible to their employees? The biggest/best ones I know of are N26 and Revolut and both are kinda similar in this context.
Despite the fact that they have laid off 120 of their staff, Monzo seems pretty good. The people that got laid off seemed to only say good things about working their on Twitter, and most of the developers I follow that work there seem passionate about what they do.
Earlier quoted context omitted.
I live in the UK and also recommend Monzo. They have a good app but the thing that stood out most to me was the correct use of emoji in their terms and conditions. It is definitely a modern bank.
> was the correct use of emoji in their terms and conditions That seems like a highly dubious way to evaluate a bank.
The N26 management apparently is doing everything to block this, which is a criminal act by German law. They not only filed several injuctions against the meeting (citing concerns about hygiene standards), but also called for an official meetings with all employees at exactly the time the soon to be Work Council held its meeting today. Now someone called the police to the meeting: https://twitter.com/worker291/status…
Most likely they got one of those law firms specialized in "cleaning" works councils. There are a couple ones.
verdi == general purpose union coverying many different fields, worker counciels etc. with a lot of legal expertise about what is possible and what is not.
If a startup refuses a worker’s council this way and someone already tries to establish it, that’s a good sign to look for employment somewhere else.
I'd argue that a startup, by its very definition, should be allowed free rein and not be subjected to the same laws that apply to the BMWs and Mercedes Benz-es of Germany (and Europe) at large. The benefits of working at a startup are enormous (owing to the opportunity to win equity/shares). It's only fair that there's an equally sized risk to go with it.
Earlier quoted context omitted.
Fire these pawns that don’t amount to a bishop or knight. Workers council if not permitted is against company policy. If they don’t have faith in management they can leave. Ridiculous.
You seem to be unfamiliar with German law: Company policy, if it does not permit a workers council, is illegal , and void. And no company in Germany would so brazen and stupid to make such a policy official. Any attempt to interfere with the formation or operation of a workers council is illegal. Any attempt to sanction employees for working in or attempting to form a workers council is illegal, never mind firing the…
Workers: We need a workers council.
N24: Let make a international workers council with representatives of every country but we don't give any but the German ones the legal protections which means if the non German representatives act out of place we can fire them and with this we can control the council.
Workers: Uhm, no we are not stupid. A international council is ok but you must legally binding commit to give non German representatives the same protection they would have in Germany.
N26: Nope, our way or no council.
Workers: Sure, but you know German law.
N26: Let's try to abuse COVID-19 hygiene regulations to hinder them.
Me: Facepalm, you are making it worse.
I'm there. Management sent an email to all employees a week after the process was initiated about how the works council was against all their values, and they have an amazing idea for modern employee representation - one they only hired an external lawyer to present after the employees asked for a works council. Only a couple days ago, after having the invite in their hands for 10 days did they start complaining abou…
Fire these pawns that don’t amount to a bishop or knight. Workers council if not permitted is against company policy. If they don’t have faith in management they can leave. Ridiculous.
At least here in NL the Works Council is mandatory _By law_ if you have more than 50 employees. I suppose the laws in Germany are similar. and I also suppose N26 has more than 50 employeees ;) A healthy organization should have one, in my opinion. Management being against it is an unhealthy sign. Just so you have some context. a Works Council has the following rights: Right to discuss: they will have a bi-yearly meet…
At least here in NL the Works Council is mandatory _By law_ if you have more than 50 employees. I suppose the laws in Germany are similar. and I also suppose N26 has more than 50 employeees ;) A healthy organization should have one, in my opinion. Management being against it is an unhealthy sign. Just so you have some context. a Works Council has the following rights: Right to discuss: they will have a bi-yearly meet…
Worker Councils seem to have broadly similar but slightly different rights and responsibilities in Germany. They are never mandatory, however employees do have the right to form one if there are at least five employees who are eligible to vote (18+) and if at least three of those can be elected (>6 months with the company, broadly speaking no one in an important management role). At least three employees have to take…
Are you in Netherlands or in Germany? I'm part of a Dutch Works Council. I completely disagree with the statement that Dutch and German Works Councils are similar. A German Works Council is has loads of rights that a Dutch Works Council does not have. It basically deals with way more things/
If a Works Council is appreciated often depends not so much on the company, it's also depends on whom are represented by the company. The
Regarding N26: already a Dutch Works Council can easily take the company to court whereby the company itself has to fund the costs. Meaning, company has to pay the lawyers fees. Similarly, the Works Council can also spend company money on getting advice from e.g. a lawyer. As a German Works Council is usually _way_ more powerful than the Dutch one I find this situation funny. It's the times where we advice the company to be careful with German Works Council (e.g. a change affecting at least Netherlands and Germany), the advice is not taken seriously, an in an update 6 - 12 months later they'll confirm that they underestimated the German Works Council.
From what I heard, German Works Council is involved with new vacancies, the hiring process, hiring a German vs anyone else, salary, etc. They can also force the company to fill up a vacancy (e.g. a vacancy due to someone leaving).
In the company I work for a Works Council is appreciated; it's not something they do because there's a law requiring it.
Any recommendations for digital banks that aren't terrible to their employees? The biggest/best ones I know of are N26 and Revolut and both are kinda similar in this context.