This paper analyzes and describes the most important characteristics of strikes, unions, and privatization in Serbia during the last two decades. Author explores the role of trade unions in privatization process and social transition. The initial thesis asserts that unions did not significantly protect interests of workers and other members. Main reasons for the absence of trade union strategies suitable for a society in transition are explored. The role trade unions had in privatization of companies is also explored in more details. Strikes are considered open class conflict in class-divided society. In the case of Serbia during transition, the conflict is between most of the wage-classes and members of new capitalist class. We presented basic models of privatization, with emphasis on a time period after 2000. The most common causes and reasons for strikes of workers and middle classes before, during and after privatization are also analyzed. We outlined the role of trade unions in privatization and new forms of organizing dissatisfied strikers and public protests participants. Finally, it was emphasized that considering transition as a mere privatization is wrong. The most important results of unsuccessful privatization in Serbia are massive job losses, rising unemployment and poverty of workers and citizens. They are opposing it during most of their strikes and public protests. As privatization became faster, strikes have become more inefficient.