The banking collective agreement in Luxembourg should last for one more year, with no wage increase. Nevertheless, it will ensure the payment of seniority levels for some categories of workers and the economic premium will be aligned with seniority. The remaining provisions will stay the same in 2010. Three years ago, the LCGB-SESF and OGB-L unions refused to sign this collective agreement because of the introduction of the concept of “merit-based remuneration.” This concept is still present in the agreement but the LCGB-SESF said in a press release that the employment guarantees contained in the text were more important given the crisis the financial sector is going through. The Association of Luxembourg’s Banking and Insurance Employees (Aleba) denounced the replacement of performance by merit but nevertheless signed the document. At the time, the collective agreement provided for a cumulated 6.7% remuneration increase over three years.
his concept is still present in the agreement but the LCGB-SESF said in a press release that the employment guarantees contained in the text were more important given the crisis the financial sector is going through. The Association of Luxembourg’s Banking and Insurance Employees (Aleba) denounced the replacement of performance by merit but nevertheless signed the document. At the time, the collective agreement provided for a cumulated 6.7% remuneration increase over three years.
Planet Labor, O
…Do you have information to share with us?