Support for ING Luxembourg Employees

OGBL, the national union, wishes to express its profound support for the employees of ING Luxembourg following the recent terminations of accounts of numerous individuals, causing a wave of concern and uncertainty among clients and employees.

Why did ING Luxembourg make this decision?
We question the motivations of ING Luxembourg in unilaterally terminating the contracts of tens, or even thousands, of individuals, of whom 49% of the 124,000 retail clients have no commercial relationship with any other bank. This action raises numerous questions about the future of the bank, especially regarding its “retail” line, which encompasses not only individuals but also SMEs and medium-sized enterprises.

Significant Impact on Clients and Employees
This sudden decision has triggered a barrage of negative reactions, both in the press and on social media, and has led to multiple questions. The affected clients now have only two months to transfer their assets to another bank, which also has repercussions on waiting times for opening new accounts at other institutions.

Unwavering Support for ING Luxembourg Employees
OGBL wishes to reaffirm its unconditional support for the employees of ING Luxembourg. We acknowledge the potential impact that these mass terminations can have on the stability and security of employment within the bank. Employees, who are the backbone of the institution, should not be collateral victims of opaque and potentially harmful strategic decisions.

Request for Clarifications to ING Management
OGBL has sent a letter to the management of ING Luxembourg, with a copy to the employee delegation, to request clarifications and assurances regarding the impact of these decisions on the staff. We seek detailed explanations on the reasons for contract terminations, the impact on the “retail” line, and the future of banking operations, as well as assurances regarding job protection and employee safety.
We remain available for any constructive discussions aimed at ensuring the protection and well-being of the employees.

Communicated by the OGBL Finance Sector,
June 3, 2024