After two weeks of negotiations, a redundancy plan was signed on 10 February 2023 between the management of the bank of Edmond de Rothschild (Europe), the staff delegation and the unions Aleba, LCGB and OGBL.

In a joint press release, the unions stressed that they had succeeded in reducing the number of redundancies from 26 to 20. The staff delegation and the trade unions also claim to have been able to negotiate additional measures for the affected employees, such as job retention measures, measures on job security and social and financial support measures.

The redundancy plan contains, among other things, the payment of a social bonus, the payment of an extra-legal allowance plus a family allowance, as well as an outplacement and training budget.

The announcement of this redundancy plan comes the day after the announcement of Quintet Private Bank, which has 2,000 employees and .

This story was first published in French on . It has been translated and edited for Delano.