Luxembourg banking union ALEBA has announced that Mitsubishi UFJ Investor Services & Banking (Luxembourg) SA will launch negotiations on a social plan which could affect around 20 of its 160 employees.
Following the news of the foreseen closure of Commerzbank AG Subsidiary Luxemburg, ALEBA has learned of the upcoming launch of the negotiation phase of a social plan with the bank Mitsubishi, which could impact nearly one in eight people in the company.
As the leading trade union in Luxembourg's financial centre, ALEBA, along with its delegates within the staff delegation, will now contact the bank's management and initiate the necessary and compulsory social dialogue to ensure that, in an already difficult context, adequate support is offered to Mitsubishi employees who may lose their jobs
ALEBA President Roberto Mendolia commented: "We said that 2021 would be difficult, and after two months we are already facing several hundred job losses, it is very serious. It hurts me to think of these people who will, in such a complicated time, find themselves quickly without a job. Afterwards, on the ground, it is obvious that ALEBA will fight to obtain the best possible starting conditions for the employees concerned".
