On Monday 22 August 2022, the Association Luxembourgeoise des Employés de Banque et d'Assurance (ALEBA) issued a statement concerning the takeover of Fortuna Banque by the Banque et Caisse d'Epargne de l'Etat (BCEE), specifically addressing the future of the bank's employees.
The statement addresses that, on the eve of its hundredth anniversary, the Luxembourgish bank Fortuna Banque had announced the gradual cessation of its banking activities in the medium term; it has notably been a financial institute that has been very involved in Luxembourg's community life supporting, for example, a good number of cultural and sporting activities.
Concerned about the future of employees, a constructive and regular exchange has been taking place for several weeks between ALEBA and the Fortuna Bank Staff Delegation, in order to best support the Delegation in its discussions with the Board of Directors and Management concerning a support plan for employees during the takeover by the BCEE. Long before the official announcement of the gradual cessation of its banking activities, union representatives had been working hard to obtain extra-legal advantages and more precise details of the transaction, in order to best protect the rights and interests of employees.
ALEBA has alleged that the BCEE may not have the best interests of Fortuna employees at heart: it has pointed out that they are qualified and experienced with loyalty and commitment, yet this may not be enough for them to be taken back to their jobs. ALEBA has also claimed that BCEE has not agreed to meet with representatives of the Fortuna Banque staff delegation, which represents 17 employees on permanent contracts.
ALEBA has emphasised the know-how of employees that remains essential for the transfer of customers during the gradual cessation of activity. It added that the dialogue between the delegation and the Board of Directors has always been lively but constructive, and the management of Fortuna seems to want to reward the dedication of its employees by agreeing to grant additional benefits to employees, although currently there still no sign of a social plan.
ALEBA has alleged that the law on collective redundancies is being circumvented and has called upon Luxembourg's Minister of Labour to modernise and adapt the Social Plans Act, in particular by reviewing the thresholds and imposing stricter obligations.
