In a joint statement on 2 December, the trade unions ALEBA, LCGB and OGBL said that negotiations with the management of Natixis Wealth Management, a French financial institution created in 2006 and part of the BPCE Group, on a redundancy plan are ongoing.

“Negotiations are progressing slowly and many questions remain open. For the moment we are talking, but there is no concrete action on the part of Natixis,” said Sylvie Reuter, deputy secretary of the OGBL, the majority union and the only one represented on the staff delegation.

26 jobs are threatened out of a total of 97 employees, i.e. 27% of the workforce. “Since 2008, employees have been losing their jobs piecemeal. Today, management wants to carry out a more extensive restructuring, but we are asking the employer to take responsibility for its employees by reducing the number of redundancies or by offering acceptable accompanying measures, which is not the case at the moment.”

Negotiations between the OGBL and the bank’s management are due to continue on Friday morning.

In its 2020 annual report, Natixis Wealth Management Luxembourg - Belgium posted a gross operating profit (GOI) of €11.4m, the same as in 2019, despite a net banking income (NBI) down by €1.5m for a total of €38.5m.

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