On Thursday 26 September 2024, ING Luxembourg issued a press release that stated that staff are being reallocated following the closure of three branches (in Kirchberg, Cloche d’Or and Rodange), an that it is making "good progress in concentrating client services to focus on personal and private banking offer".
According to ING Luxembourg, the branch closures have been discussed with representatives of the LCGB-SESF and ALEBA trade unions, an that the bank is now concentrating staff in four large branches - the Siège at Luxembourg-Gare, Esch/Alzette, Ettelbruck and Strassen - and that it is adapting its service offering to changing customer needs. It also stated that no new wave of client account closures is planned.
“We are making good progress in positioning ING as the preferred financial partner of our Wholesale, Personal and Private Banking clients,” stated Michael Burch, CEO of ING in Luxembourg. He added: "We are aware of the importance of clear communication and direct engagement with our clients and stakeholders regarding the repositioning of our bank. We have agreed with our stakeholders a formal process, but no new waves of client account closures are planned. During our meeting earlier this week, we discussed the branch closures in confidence with the representatives of LCGB-SESF and ALEBA. Additional client account closures, however, were not part of the discussion.”
The branches in Kirchberg, Cloche d’Or and Rodange, which have operated on an appointment-only basis since 2021, will cease in-person services on 30 November 2024.
According to ING Luxembourg, the decision to concentrate services in four branches and close the branches mentioned above has been supported by an analysis of client visits to ING branches performed over several months. The overall number of visits was limited, and ING is convinced that client needs will be better served in its remaining branches by personal bankers and/or via the contact centre.
"All clients affected by the branch closures are being informed in writing, and alternatives are provided. Clients have access to their accounts and can perform their banking operations via My ING, ING’s banking app (accessible via mobile devices and web browser) and the contact centre. Furthermore, the ING branches in Ettelbruck, Esch/Alzette, Strassen and Siège (ING’s headquarters) are open to clients with and without appointment (during regular business hours). All four branches are easily accessible using public transport. Additionally, the Strassen and Siège branches offer free parking facilities for clients."
The bank confirmed that the seven staff members currently working in the three branches concerned will continue to provide high-quality services from ING’s other locations, ensuring continued support for all clients.
"The changes announced today reflect our commitment to deliver personalized and specialised services to our Personal and Private Banking clients. We continue to invest in additional solutions for secure, convenient access to our services. At the same time, Luxembourg is ING’s global centre of expertise for fund management, and we are further strengthening our services for our Wholesale Banking clients,” concluded Mr Burch.
Trade Unions
According to ALEBA, a constructive meeting took place between the two unions represented in the delegation, LCGB-SESF and ALEBA, and the management of ING Luxembourg to discuss the future of employees following the announcement of the repositioning of ING Bank on private banking and wholesale banking activities. As part of this meeting, the joint commitment to preserving employment and enhancing the company's human capital was highlighted. Nevertheless, the parties are realistic and stress the importance of promoting employability, taking into account the development of both ING Bank and the financial centre.
They reported that the meeting took place in a spirit of openness and transparency, allowing for a constructive exchange between all parties. The parties undertake to maintain social dialogue to anticipate and manage developments in the banking sector.
They stated that ING Luxembourg management confirmed that at present, no social plan or layoffs are envisaged, and that all parties reaffirmed that safeguarding employees' jobs is a major priority, with management and social partners committed to exploring all possibilities to promote employability.
Particular emphasis was placed on the importance of employees and their skills for the future of ING Luxembourg: management is committed to prioritising internal mobility and offering training opportunities to adapt employees' skills to the future needs of the company. ING Luxembourg, the LCGB-SESF and ALEBA trade unions, as well as the staff delegation, all agreed on the importance of maintaining regular contact and are committed to remaining transparent and open to any future discussions.
