The jobs are removed as a result of the reorientation of commercial strategies and the outsourcing of some activities.

In this context, unions ALEBA, OGBL and LCGB and the personnel delegation of the London based bank came together on Friday for the signing of a severance plan. This was made public by the unions in a press release on Monday evening.

Reorientation of the company's commercial strategy and the outsourcing of some activities are at the source of this workforce reduction.

The press release states that a severance plan had to be created for this reason.

According to the unions, the negotiations went well, but they regretted that employees were suffering as a result decisions which have the sole aim of generating profit for the company.