Archive photo shows Aleba president Roberto Mendolia
Photo: Nader Ghavami
RBC has extended its social plan until 30 April following delays in the bank’s restructuring plan, banking union Aleba announced on Monday.
In December 2019, the Canadian bank announced plans to axe 20% of its 1,000-strong workforce in a redundancy plan that was due to expire on 31 January 2021.
While the number of employees impacted has since been reduced to 43 staff, talks are ongoing.
Aleba agreed the extension of the redundancy plan on the condition that the employer dispenses with notice periods if impacted staff find a new job. At the same time, staff should retain their financial, legal and extra-legal compensation rights, says Aleba.
It said, “For the Aleba, the extension was in fact only possible under these conditions, which avoided any unfair treatment towards employees dismissed in 2020, any loss of salary and any benefit, even partial, of a notice period.”
Aleba president Roberto Mendolia said, “In a complicated socio-economic context, due to the pandemic, there can be no question of the rights and interests of employees of companies in the financial sector being diminished. This is a very clear message to the management of the companies, and to the employers’ organisations.”