Trade unions are expressing fears that approximately 300 jobs may be cut in back offices and at counters at ING.
In an interview with our colleagues from RTL Télé, representatives from the Luxembourg Association for All Employees with a Need for Assistance (ALEBA) and the Luxembourg Confederation of Christian Trade Unions (LCGB) indicated that these layoffs are not anticipated in 2024 but uncertainty looms for 2025. ALEBA Vice-President Jean-Jacques Rieff voiced concerns that staff could bear the brunt of the cuts, with around 150 employees in retail and a similar number in back offices potentially affected.
The bank has officially stated that it will halt all retail banking for private clients, as this model is allegedly not sustainable anymore.
Unions believe that layoffs are unlikely this year, as employees are needed until at least the end of 2024 to manage the closure of over 40,000 accounts.
Should layoffs proceed, trade unions will push for an employment retention plan. Maria-Helena Macedo from the LCGB emphasised the importance of discussions with general management to obtain firsthand information. Union representatives aim to meet with ING's CEO to get clarity on the bank's future and the job security of its employees for the coming months and particularly for next year.
Beyond the situation at ING, trade unions are worried about the overall future of Luxembourg's banking sector, which has recently experienced several redundancy plans. This broader context has also complicated negotiations for a new collective agreement for the sector.
Full report by RTL Télé (in Luxembourgish)
