Social Plan signed for RBC Employees

The unions ALEBA, OGBL Secteur Financier and LCGB inform that on December 13, 2019 an agreement on a social plan was found for RBC Employees in Luxembourg.

The Canadian bank, which employs more than 1,100 people in Luxembourg, had announced that it would proceed to economic redundancies following an internal restructuring. A maximum of 201 Employees will be affected by the social plan that the three Unions have negotiated with RBC Luxembourg Management.

During these negotiations, measures were agreed for Employees to maintain their employment. RBC’s Management is committed to informing all affected Employees as soon as possible. Other measures have been agreed which will give Employees the necessary time to find a new job, but also to adapt their skills to the possible new needs of the Financial Sector or to reorient themselves at the level of the Labour market. These measures will help to ensure that the impacted Employees find a new job as soon as possible.

The social plan also states that Employees will receive extra-legal financial and social benefits to compensate the loss of their jobs.

Luxembourg, December 17, 2019.