Trade unions ALEBA, LCGB-SESF and OGBL-SBA and the bank Credem International have failed to reach an agreement on a social plan for the employees after the bank announced the closure of its Luxembourg branch. According to the unions, the bank's proposal was below what is applied in similar situations and did not even correspond to a quarter of what is customary in the country’s banking sector. It is now up to the state conciliation office (ONC), responsible for arbitration when no agreement is reached, to act.
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