Luxembourg - Rothschild changes dismissal plan - March 31, 2017

The Rothschild bank announced in January 2017 that it will move its IT department from the Grand Duchy to Switzerland, making approximately 15 employees redundant by April 2018. The company's apparent refusal of negotiating a social plan for the affected employees met criticism from the trade unions ALEBA and OGBL. In an internal note, the private bank informs its staff representatives that the affected employees do not have to leave the company by 2018 as there are a lot of career opportunities inside the Rothschild group.

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