ING Luxembourg planned to shed as many as 124 jobs, Aleba said after the bank informed staff representatives. RTL Luxembourg first reported the planned cuts. The union noted that the figure was the maximum number communicated by management but added it was not yet clear which employees would be affected.
The reductions were linked to ING’s strategic repositioning in May 2024. The bank that it served around 90,000 retail clients in the grand duchy, of which a third were deemed “inactive” or too costly to service. Nearly 30,000 contracts were slated for termination as part of that shift. ING had already flagged that the move would result in a gradual reduction in staff, though without providing numbers or a timeline.
Union stance
Aleba said the staff delegation had been invited to an information meeting with management, which could lead to a consultation process and potentially to the negotiation of a social plan. The union stressed its priority would be to reduce the number of redundancies and to ensure that any plan was strictly framed in terms of criteria and timing. “No employee can be laid off outside of that specific framework, except by negotiating a new social plan,” Aleba said.
ING Luxembourg had already scaled back its branch network to four outlets in Luxembourg-Gare, Strassen, Ettelbruck and Esch-sur-Alzette. The bank employed 947 permanent staff at the end of 2024.
ING Luxembourg declined to comment or confirm the planned job cuts, saying it would issue an official statement in the middle of next week.