On Wednesday 11 September 2024, the ALEBA, LCGB and OGBL trade unions issued a press release about the Bank of New York Mellon (BNYM) social plan, which recently took effect.
The BNYM social plan was signed on 29 May 2024 by the above trade unions before coming into effect on 2 September 2024. As reported by the unions, the social plan aimed to preserve as many jobs as possible within the bank, while offering advantageous departure conditions to employees affected by the job losses.
A little over three months after the social plan was signed, 25 people are affected, compared to 36 initially announced. They will be able to benefit from social support measures and extra-legal compensation, 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 expressed their regret that employees have had to "pay the high price of the unbridled race for profit" of certain companies. They also stressed the importance of social dialogue and negotiations between unions and employers, which make it possible on the one hand to reduce the number of jobs affected and on the other hand to improve the departure conditions of the people concerned.
