On Friday 21 June 2024, the ALEBA, LCGB and OGBL trade unions reported that they signed a social plan at the Bank of New York Mellon as the latter announced the reduction of up to 36 jobs due to the outsourcing of certain services within the bank on 29 May 2024.

The unions, aiming to preserve as many jobs as possible within BNYM, while offering advantageous departure conditions to the 36 employees affected by the loss of their jobs, noted they have succeeded in obtaining social support measures and extra-legal compensation for the employees concerned, including:

• the payment of a social bonus;
• the payment of extra-legal compensation;
• the implementation of an outplacement and/or training budget.

ALEBA, LCGB and OGBL unanimously expressed their regret that once again employees have had to pay the price for the “frantic race for profit” in which companies are engaged.