After long and tough negotiations, the Association of Luxembourg's Banks and Bankers (ABBL) and the largest union in the sector, Aleba, signed, on December 28, a new collective agreement for the banking sector. Other unions, OBG-L and LCCB, criticised the agreement and intend on mobilizing their members. (Ref. 080013)
This agreement, which concerns 20.000 employees, covers the period from January 1, 2007 to December 31, 2009. It ratifies one of employers’ claims which consists in replacing the current pay system with a merit-based system while taking seniority into account. According to the agreement, merit is “a set of technical, behavioral and social skills which enables to provide plenty of quality work, growing together with experience in the job”. Merit is not limited to individual performance though. T
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