Social plan signed at UBS Luxembourg

logo ubsToday, ALEBA, OGBL-SBA and LCGB-SESF have finalised a social plan at UBS Luxembourg, which had announced that 60 jobs would be lost from the back office of their Wealth Management Operations department. Following several periods of negotiation with the management, four jobs have been saved. For the remaining 56 people, the bank will seek to reduce this number by offering early pre-retirement or alternative employment within the group.

A substantial budget has been allocated for training and outplacement in order to guarantee the employability of the people affected. Other beneficial conditions have been negotiated, including:

  • redundancy payments beyond the statutory minimum
  • the possibility of longer notice periods.

 

Joint press release of ALEBA, OBGL-SBA and LCGB-SESF published the 19th September 2016