Banque Hapoalim Luxembourg announces the loss of around 30 jobs: negotiation of a social plan

ALEBA has been invited to participate in negotiations on a social plan that could affect around 30 jobs. An initial meeting with management of the Israeli bank takes place tomorrow, Wednesday 29 November.

Based on our information it appears that the Board of Directors of the Israel-based group decided in September to cease all private banking activities in Switzerland and Luxembourg.

The group’s two entities with a presence in Luxembourg, i.e. Bank Hapoalim (Switzerland) Ltd, Luxembourg Branch and Banque Hapoalim (Luxembourg) S.A., are affected by this decision and around 30 employees out of a current workforce of 45 are at risk of losing their job. These employees have contributed to the Bank’s success in the Luxembourg financial marketplace, in some cases for decades.

This is the fifth social plan ALEBA has negotiated since the start of 2017 and 169 employees have been made redundant. The leading trade union in the financial sector regrets this sad record for 2017 – the main victims of which are, of course, the employees.

 

Press release of the 28th November 2017. 

Press contacts:

Laurent Mertz, Secretary General (laurent.mertz@kbl-bank.com / +352 621 232 295)

Sandra Carvalho, Head of Communications & Strategy (sandra.carvalho@aleba.lu / +352 671 223 228)