POLITICS & INSTITUTIONS - ECONOMY

RBC preparing third social plan



Paperjam.lu

RBC Investor & Treasury Services wants to further reduce its workforce by more than 20%. Photo: Archives/Maison Moderne 

Canadian bank RBC is preparing its third social plan since 2013. The LCGB-SESF, OGBL and ALEBA unions have learned of the bank’s plans to go ahead with the layoff of another 243 of its staff. 

This is an incomprehensible measure for the trade unions who say that the last social plan signed in 2019 has not even come to an end yet. For them, RBC has become a "macabre leader in successive social plans."

As a reminder, RBC I&TS introduced a first social plan in 2013 to cut 210 jobs and a second plan in 2019 to cut another 201 jobs at the firms Belval office. However, the latter had recently been extended until 30 April 30 2021

This article was originally published in French on Paperjam.lu and has been translated and edited for Delano.