A third social plan for RBC employees has been signed

Luxembourg, 1 April 2021 – The trade unions ALEBA LCGB and OGBL inform that on 31 March 2021 an agreement for a social plan for the employees of RBC Luxembourg was reached.

The unions consider this decision to start negotiations for a new social plan to be indecent vis-à-vis from  the staff, who in the current crisis situation are facing new pressure and concerns, while the last social plan signed in 2019 has not even come to an end.

RBC Luxembourg, a Canadian bank with more than 1,100 employees in Luxembourg, announced at the beginning of March 2021  its intention  to proceed with new redundancies following internal restructuring. After intense but constructive negotiations between the ALEBA, LCGB and OGBL trade unions and the management, a maximum of 241 positions will ultimately be affected by the social plan and the trade unions  managed to obtain, compared to the social plan signed in 2019, significantly improved financial and social compensation to compensate for the loss of employment of the employees concerned.

In order to safeguard the lives of the employees concerned, the unions also managed to obtain additional support measures aimed at maintaining employment. The social plan also provides for measures to enable the employees concerned to adapt their skills to the possible new needs of the financial sector, or to reorient themselves on the labour market.

While the trade unions strongly deplore this unbridled race for profit and to the detriment of RBC employees, the unions have called on management to do everything possible to ensure the sustainability of the Luxembourg site, thus guaranteeing the jobs and lives of the employees.

Press release, Thursday 1 April, 2021