RBC IS: extension of the social plan until April 30th, 2021

The Canadian bank with 1,000 employees based in Belval wanted the December 2019 redundancy plan, which still concerns 43 of the 201 employees initially impacted and which was due to expire on January 31st, 2021, to be extended due to delays in the financial institution’s restructuring plan.

 On Friday January 22nd, 2021, ALEBA agreed to the extension of the December 2019 social plan. However, during the negotiations, ALEBA has strictly forbidden that each employee who returns to work should be exempted from the notice period whilst retaining all of his or her financial, legal and extra-legal compensation.

 For the ALEBA, the extension was only possible under these conditions, thus avoiding any unfair treatment vis-à-vis from  employees dismissed in 2020, any loss of salary and any benefit, even partial, of a notice period.  “We nevertheless had to fight against the management but also against the Ogbl-Lcgb trade union, which was satisfied with a single notification on 31 January 2021 for the 43 employees, which would obviously have led to an unacceptable loss of income for the employees concerned,” explain David Billay and Jean-Louis Lannoo, Staff Representatives at RBC.

In a complicated socio-economic context, due to the pandemic, there can be no question of the rights and interests of employees of companies in the financial sector being reduced This is a very clear message to the management of companies and to employers’ organisations,” adds Roberto Mendolia, President of ALEBA.