JP Morgan Bank announces 105 job losses. Social plan negotiations have begun.

jp-morgan-logoALEBA was notified of JP Morgan Bank’s intention to negotiate a social plan through which 105 jobs would be lost out of a total workforce of 474 people. JP Morgan foresees the off-shoring of part of its activities to Scotland and India.

As the financial sector’s leading trade union, ALEBA is already mobilised and is participating in negotiations that began on 3rd October. We are also assisting the personnel delegation with their strong defence of the rights and interests of the employees affected by the social plan. We are giving them the benefit of our lengthy experience of such situations.

ALEBA regrets that the unrestrained pursuit of profit is leading more and more companies to remorselessly sacrifice jobs in the Grand Duchy of Luxembourg.