Signature of a Social Plan at the Edmond de Rothschild Bank (Europe)

After two weeks of negotiations, a social plan was signed on February 10, 2023 between the management of Banque Edmond de Rothschild (Europe), the OGBL staff delegation, the OGBL Financial Sector, ALEBA and LCGB-SESF.
The bank is faced with the need to reduce costs at the operational level and is forced to cut positions, mainly in support functions.

Thanks to a strong commitment throughout the negotiations, the staff delegation in partnership with the unions succeeded in reducing the number of redundancies from 26 to 20.
Within the framework of this social plan, the staff delegation and the trade unions were able to negotiate additional measures for the employees concerned, such as job retention measures, measures to secure employment and social as well as financial support measures.
The social plan contains, among other things, the payment of a social bonus, the payment of a non-statutory allowance plus a family allowance, as well as an outplacement and/or training budget.

Thanks to the work done throughout their mandate, the staff representatives at Edmond de Rothschild were able to establish a climate with the management that enabled constructive discussions to take place in the development of this social plan.

Communicated by OGBL, ALEBA and LCGB,
February 15, 2023