Library picture: Bank union protests, 5 February 2018
Since the Israeli bank Hapoalim announced the cessation of activities in Luxembourg and subsequent social plan last year, it has been the subject of much controversy.
According to an article in Paperjam on 14 March, the unions Aleba, OGBL and LCGB are “scandalised by the bank’s attempts to introduce a ‘sine que non’ clause, not previously discussed, and manifestly illegal, that would require the bank’s 26 effected employees to comply for life.”
The unions accused Hapoalim of “hostage taking” as the clause demands the reimbursement of allowances granted in the social plan if the employee does not collaborate.
In the absence of an agreement there will be no social plan for the 26 employees concerned, the unions stated. They will now enter talks the Ministry of Labour, the Association of Banks and Bankers Luxembourg (ABBL) and the Labour and Mining Inspectorate (ITM) to inform them of the details of the case.