Luxembourg trade unions ALEBA, OGBL-SBA and LCGB-SESF have denounced the Collective Agreement for Banks, deeming it to be unacceptable.

On 24 November 2017, the ALEBA, OGBL-SBA and LCGB-SESF unions denounced the Collective Labour Agreement 2017, and requested the opening of negotiations for its renewal. They also submitted to the ABBL their catalogue of mutual claims, before asking for a quick first plenary meeting in order to take stock of the formal negotiations and discussions started since December 2016.

This first meeting, held on 9 February 2018, did little to satisfy the trade unions, who recognise that whilst the principle of a new, more transparent classification system has been identified and- with the addition of the necessary safeguards against abuse- could gain the unions’ support, the positions of employers still do not allow for agreement concerning remuneration and working time.

As such, the unions have requested that the ABBL review its positions for the next meeting scheduled for 1 March 2018.

For ALEBA, OGBL-SBA and LCGB-SESF, if concrete progress were not to be made by the end of March 2018, the unions would consider this to be a lack of willingness on the part of the ABBL to reach an agreement guaranteeing adequate working conditions and remuneration for employees in the sector, whilst responding to the need to modernise the Collective Labour Agreement and taking into account developments in the financial centre in Luxembourg.