On Tuesday 22 august 2023, the banking union ALEBA confirmed that discussions on a social plan for staff of Fuchs & Associés Finance SA, currently in liquidation, had broken down.
According to the trade union, the staff delegation of Fuchs & Associés Finance SA has strongly denounced the failure of negotiations with the liquidator aimed at setting up a social plan which would have made it possible to properly compensate the employees following the compulsory liquidation of the company by a judgment of the District Court of Luxembourg on 18 July 2023.
On the initiative of the ALEBA union and with the active support of the LCGB union, sustained steps have been taken with the assistance of a law firm to obtain what they described as a fair social plan. However, despite the combined efforts of the two unions, and even after an intervention by the ONC (Office National de Conciliation), the parties were unable to reach an agreement and a report of non-conciliation was drawn up by the ONC on 17 August 2023.
The ALEBA and LCGB unions have stated that they believe that this failure is solely due to the bad will and intransigence of the liquidator, even though they believe that a social plan was economically, socially and legally possible. This outcome leaves the employees of Fuchs & Associés Finance S.A. in the position of having to assert their rights individually.
