Social plan signed at ÖHMAN BANK

This Friday, July 31, 2020, ALEBA, OGBL and LCGB unions and the Staff Delegation of Öhman Bank S.A. signed a social plan that will impact 17 employees

The Swedish bank wishes to cease its activities in Luxembourg and therefore has sold part of its customer portfolio to VP Bank. Thus, out of 28 employees still in post, only 11 Öhman employees will be transferred to VP Bank, while 17 others will be made redundant at the end of the year.

Trade unions and Staff Delegation have therefore negotiated a social plan with the Bank’s management aimed at valuing the departure of dismissed employees. The plan notably provides for accompanying measures in line with the Labor Code and the Collective Agreement, but also acceptable financial compensation for termination of contract, as well as compensation based on social criteria.

Despite the exceptional circumstances linked to the pandemic, the negotiations proceeded calmly and constructively, with the defense and protection of the interests of the employees who will lose their jobs as a priority, with a Bank which during all the discussions demonstrated correctness.


Carla Valente                                       Sylvie Reuter                                                   Gab Di Letizia

ALEBA                                                OGBL-Secteur Financier                                 LCGB-Sesf


Luxembourg, le 3 août 2020.