Social plan at UBS (Luxembourg) S.A.

ALEBlogo ubsA has been informed that UBS (Luxembourg) S.A. (UBSL) intends to start the process of reducing its workforce for economic reasons. Operational services conducted by UBSL will in the future be carried out by  UBS Poland (UBSP).

According to the Swiss Bank, this decision results from the need to address new requirements and increased costs.

Since this announcement, ALEBA has of course been in permanent contact with the staff delegation, contributing support and offering its experience of such situations. Meetings are planned with the management, and ALEBA has the clear objective of seeking to save as many jobs as possible. It will also negotiate firmly to ensure the best possible redundancy conditions for those who would, unfortunately, lose their job for economic reasons.

It is clear that a new battle has started for ALEBA. Once again we are unhappy that off-shoring, closures and business sales are taking place simply to maximise profit, to the detriment of employment and general well-being.

Pressrelease of September 2 2016