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Luxembourg unions fight Rothschild partial relocation plans
Economics

Luxembourg unions fight Rothschild partial relocation plans

10.01.2017 From our online archive
Two of Luxembourg's top unions are opposed to private bank Edmond de Rothschild's decision to move its IT department from the Grand Duchy to Switzerland making 18 people redundant.

Two of Luxembourg's top unions are opposed to private bank Edmond de Rothschild's decision to move its IT department from the Grand Duchy to Switzerland. A move that would make 18 people redundant in April 2018.

The ALEBA and OGBL unions' main concern is the apparent refusal of the company's management to negotiate a social plan for the affected employees.

This is one of the principle reasons the trade unions are promoting a protest rally in front of the private bank's headquarters in Limpertsberg on Tuesday afternoon.

According to OGBL trade unionist Véronique Eischen, "the bank's management prefers to negotiate a business agreement rather than a social plan to allegedly minimise costs and not harm the company's image."

If the bank's management does not change its position on the matter, the two unions promise to step up their fight.