Outsourcing to India and Poland101 State Street Luxembourg employees to be laid off

RTL Today
On 8 May, the employee delegation of State Street Bank Luxembourg signed a redundancy plan with the three trade unions ALEBA, OGBL, and LCBG.

The bank will lay off 101 employees by 2020 in an endeavour to reduce costs. The group is outsourcing certain activities to India and Poland.

The redundancy plan as negotiated by the trade unions and employee delegation will incorporate support measures and guarantee financial compensation.

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