Luxembourg trade unions LCGB-SESF, OGBL and ALEBA have announced that, on Friday 13 December 2019, an agreement for a social plan was reached for RBC Luxembourg employees.

RBC Luxembourg, a Canadian bank which employs more than 1,100 people in Luxembourg, previously announced that it was going to dismiss employees after internal restructuring. Following negotiations between the LCGB-SESF, OGBL and ALEBA unions with the management, a maximum of 201 employees will ultimately be affected by the social plan.

In order to guarantee the safeguarding of the livelihoods of the employees concerned, the unions obtained support measures in the context of negotiations aimed at maintaining employment. The unions have recalled that the RBC management has committed itself to informing all employees affected by social issues as soon as possible. The social plan also provides for measures which will enable the employees concerned to find a new job as quickly as possible by making available the free time necessary for research as well as adapting their skills to potential new needs in the financial sector or even reorientation on the job market.

Finally, the trade unions added that they managed to obtain extralegal as well as social compensation in order to make up for the job loss of the employees affected by this social plan.