Social plan signed at HSBC Private Bank (Luxembourg) S.A.

On Friday, 14 June 2019, the ALEBA, OGBL Finance Sector and LCGB-SESF unions and the employee representatives of HSBC Private Bank (Luxembourg) S.A. signed a social plan that will affect 32 employees.

As a result of a decision to redirect the company’s business strategy and outsource certain tasks to other HSBC Group entities, 32 jobs will have to be eliminated.

The unions and staff representatives have therefore negotiated a social plan with the management that includes not only support measures to help employees quickly find a stable job, but also acceptable financial compensation for the employees affected.

ALEBA, OGBL-Finance Sector and LCGB-SESF unanimously regret that, once again, workers are paying the price for companies’ unbridled pursuit of profit. Nevertheless, the unions emphasise that negotiations went well with the employer, which assumed its social responsibility.

Carla Valente                                       Lena Batal                                                       Benoît Migeaux

ALEBA                                                  OGBL-Secteur Financier                              LCGB-Sesf


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