ING Luxembourg has signed a social plan with trade unions
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On 24 October 2025, negotiations between ING management and representatives of the country's three largest trade unions - ALEBA, LCGB and OGBL - concluded in Luxembourg. As a result, an agreement was reached on a social plan affecting 124 employees whose positions will be cut as part of the bank's strategic transformation.
The decision to restructure was part of ING Luxembourg's move to focus on the Private Banking and Wholesale Banking segments. This means giving up some retail banking business lines and, at the same time, reducing the number of staff. Nevertheless, the parties emphasise that the negotiations took place in a constructive and respectful atmosphere, with priority given to protecting the interests of staff.
Under the arrangement, employees subject to termination will receive:
- increased financial benefits;
- support for professional retraining;
- assistance in finding a new job (career transition support).
All these measures are designed to mitigate the impact of the layoffs and ensure, in the words of the unions, "dignified and humane conditions of care". The ING staff delegation was also actively involved in negotiating the terms and conditions, pushing for the most favourable provisions for employees.
The unions emphasise that all avenues for negotiation have been exhausted and the agreement reached reflects a common interest to ensure the best possible conditions for those forced to leave the company.
