Company/Organisation:
KBL
Geographic Location
Country:
Luxembourg
Region:
Luxembourg (Grand-Duché); Luxembourg (Grand-Duché); Luxembourg (Grand-Duché)
Location of affected unit(s):
Luxembourg
Company
Sector:
Financial services
Financial and insurance activities
64.99 - Other financial service activities, except insurance and pension funding n.e.c.
Number Employed:
1134
Group:
KBL European Private Bankers SA
Employment Effects
Announcement Date:
26-11-2012
Planned Job Reductions min:
136
Type of Restructuring:
Internal restructuring
Employment Effect Start:
07-12-2012
Foreseen End Date:
31-12-2012
Direct Dismissals:
106
Other Job Reduction Measures:
30
Additional Information
The bank KBL has announced to cut about 136 positions by the end of December, out of a total of 1,134 employees, in the framework of a cost saving plan.
The management has negotiated a social plan with the ALEBA union. 30 jobs will be cut through voluntary departures and 106 will be forced dismissals. According to the unions, two-thirds of the dismissed employees are older than 45 years.
The management explained its decision by the crisis in the euro zone and an effort to sell the bank.
Sources:
10-12-2012L'Essentiel
26-11-2012L'Essentiel
Sources Links:
http://www.lessentiel.lu/fr/economie/story/13991784
http://www.lessentiel.lu/fr/economie/story/13047842