Negotiation of a social plan at J.P. Morgan Mobility Payments Solutions S.A

The J.P. Morgan Group has decided to cease operations of its Luxembourg-based company J.P. Morgan Mobility Payments Solutions S.A. The group cites the company's performance and profitability as reasons for the closure.

The entire workforce, comprising 33 employees, is directly affected by this decision.

The staff delegation invited ALEBA to participate in negotiations for a redundancy plan. Together, the employee representatives were able to secure extra-legal compensation that was fairer and more advantageous than that provided for by law.

Indeed, as the company was founded in 2017, more than two-thirds of employees had less than five years' service. By law, these individuals would have left empty-handed. It was therefore essential to secure decent severance terms.

In addition to extra-legal allowances linked to age and seniority negotiated by staff representatives and ALEBA, employees will receive a family allowance for dependent children and a dedicated training budget.

The first redundancies are expected to take place in 2026.

ALEBA regrets that strategic decisions are no longer taken at the level of the entity concerned based in Luxembourg, but by an American company, further proof that international groups pay little attention to employees affected by decisions which are motivated solely by financial considerations.