Economy & Politics

The situation is getting better for the “false executives” of the banks

The Aleba obtained a legal victory so that one of its members, falsely promoted to senior executive, could access the benefits linked to the banking sector collective agreement. Case law that should snowball.

Patrick JACQUEMOT

The Aleba obtained a legal victory so that one of its members, falsely promoted to senior executive, could access the benefits linked to the banking sector collective agreement. Case law that should snowball.

The biggest union in the financial center has just scored a point in a match that started years ago. Thus, since 2017, the ALEBA (Luxembourg Association of Banking and Insurance Employees) has won the case so that one of its members – an employee of Caceis Bank – can obtain payment for overtime and benefit from a economic bonus, elements which until then had been refused to him because of his hiring as a senior executive.

Except that … Except that in many cases, the ALEBA denounces recruitments under statutes of senior executive which are in reality lures. And there is a plethora of “false executives” in Luxembourg establishments. In 2018, the union estimated that 27.84% of the workforce in the financial sector were in this situation. Either then 7,385 employees who, excluded from the collective agreement by their statute, were not entitled nor to the payment of overtime, nor to the allocation of bonuses say loyalty or 8.5 additional days of rest indicated in the CCT Bank.


Wort.fr, interview with Roberto Mendolia, Aleba Foto: Chris Karaba / Luxemburger Wort

While the financial sector remains the main pillar of the economy, the question of its attractiveness remains at the center of discussions. For Aleba, the market’s main union, the new collective agreement must guarantee this situation, even if “certain ambiguities” remain.


The Labor Court, obviously, was sensitive to the arguments of ALEBA in the defense of the rights of this false executive of Caceis. And already, announces the union, “four employees at the Bank of Rothschild have also been reinstated in the collective agreement, following an agreement reached with their management”. Sign that the times are changing on this issue.

Moreover, ALEBA notes that, in recent times, several employers “have taken advantage of the new method of classifying groups in banks to reinstate employees in the collective labor agreement”. The application of the text, in force since 2018, has allowed hundreds of “false executives” to obtain the assets that had been cut off.


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