Social plan for Riverbank

Social plan signed for Riverbank: a balancing act on a narrow path! Following the expiry of the negotiation period, a social plan was signed on 18 November 2022 between the management of Riverbank, OGBL, ALEBA, and LCGB-SESF and the staff delegation. Riverbank currently employs 44 people. Affected by a demanding regulatory and economic environment, the bank has decided to reorganize its operations and to cut up to 13 positions, mainly in the IT department.

As part of the social plan, the trade unions were able to negotiate additional measures for the affected employees. Due to the small size of the structure, the main concern consisted in securing the bank as such, especially in human capacities.

Thanks to their unwavering commitment throughout the negotiations, the unions, in partnership with the employee representative, were able to negotiate an agreement that, instead of 17 employees being made redundant as originally envisaged, brought that figure down to only a maximum of 13 staff being impacted. The number of employees affected by the restructuring process in the IT department was reduced by 4 positions.




Roberto Mendolia

Communicated by the unions on 23 November 2022