Social plan signed by ALEBA at KNEIP, fears for the financial sector

At the request of the Staff Delegation, ALEBA has been present in recent weeks at Kneip to support it and negotiate a social plan with it.

The company had indeed communicated its decision to cut 70 jobs (out of 200, or 35% of the staff!), for economic reasons, in a context of outsourcing and cost cutting.

“Drawing on its experience, ALEBA has made every effort to advise the Delegation, and will have uncompromisingly defended the interests of employees throughout these negotiations, in order to obtain the maximum for the employees concerned” indicates Eddy Girardi, in charge of the ALEBA negotiations. Childcare allowance, Outplacement, Single parent allowance and Retention allowance were notably negotiated, in addition to notice and indemnities.

“The conditions are acceptable, but above all they are much better than what was on the table at the start of the negotiations. However, in this complicated period, there could be no question of redundancies not being very valued,” adds Eddy Girardi.

Roberto Mendolia reminds that it is nothing less than 342 job cuts that ALEBA had already had to negotiate during the last 12 months: “These are 342 too many job cuts, in a financial sector in Luxembourg which nevertheless continues to be well. Take the balance sheet of the banks: 768,000 million euros at the end of 2018 and 815,000 million euros at the end of 2019, i.e. 5.7% increase! Look at the fund industry, whose overall net assets go from 4.046 billion euros on 31.12.2018 to 4.718 billion euros on 31.12.2019, a double-digit increase of 14.2%! These are not union figures, these are the official figures of Statec! “

On the ALEBA side, there are fears of other social plans in the coming months, in the context of COVID-19. “From all sides we hear companies considering working differently, and, with a decrease in their income, thinking about cutting their costs. We know from experience that the first victims in this kind of situation are the employees. Let companies know, however, that in the event of economic redundancies, ALEBA will not accept anything, that it will be necessary to justify these redundancies, and that they will have to assume their social responsibility towards workers, financially”, explains President Mendolia.


Communiqué de presse

Luxembourg, le 8 juillet 2020.