ALEBA logo;
On Monday 17 November 2025, the ALEBA trade union announced that a redundancy plan has been negotiated for the 33 employees affected by the planned closure of JP Morgan Mobility Payments Solutions in Luxembourg.
According to Aleba, the JP Morgan Group has decided to cease operations of its Luxembourg-based entity JP Morgan Mobility Payments Solutions SA, citing the company's performance and profitability as reasons for the closure. All 33 employees will be directly affected.
The staff delegation invited ALEBA to join the negotiations for a redundancy plan. Together, the employee representatives secured extra-legal compensation described as "fairer" and "more advantageous" than what is provided for under Luxembourg law.
As the company was founded in 2017, more than two-thirds of employees had less than five years' seniority. By law, these individuals would not have been entitled to any compensation, noted ALEBA.
Instead, in addition to extra-legal allowances linked to age and seniority negotiated by staff representatives and ALEBA, employees will receive a family allowance for dependent children and a dedicated training budget.
The first redundancies are expected to take place in 2026.
ALEBA expressed regret that strategic decisions are no longer taken at the level of the Luxembourg entity but by the US-based parent company, calling this "further proof that international groups pay little attention to employees affected by decisions which are motivated solely by financial considerations."
