Landsbanki Employees Protest in Luxembourg Skip to content

Landsbanki Employees Protest in Luxembourg

Around 70 former employees of Iceland’s Landsbanki Bank in Luxembourg, which has gone bankrupt, and their families protested outside the bank yesterday, demanding the term of notice they were promised and which they are entitled to according to law.

Landsbanki headquarters in Reykjavík. Copyright: Icelandic Photo Agency.

The employees were informed that they would receive their salaries from the bank’s bankrupt estate and that they should hand in the cell phones and cars tomorrow that they required for their work and was part of their salaries, mbl.is reports.

Many of these families also live in apartments provided by their former employer and now they worry that the rent will not be paid.

Landsbanki’s remaining employees were not permitted to participate in the protests outside the bank, but they showed their support with phone calls and by waving to their former colleagues.

The Luxembourgish association of bankers, Association Luxembourgeoise des Employés de Banque et Assurance (Aleba), is going to assist the former Landsbanki employees and are planning to sue the bank for unlawful layoffs.

Luxembourgish authorities announced that Landsbanki in Luxembourg had gone technically bankruptcy on December 12. The bank, which was a subsidiary of Landsbanki in Iceland, had 160 employees, 35 of whom were Icelandic.

According to Fréttabladid, protests were also organized outside Landsbanki branches in Iceland yesterday.

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