Laurentian Bank signs collective agreement with unionized staff

by Steve Randall11 Apr 2019

Unionized employees at Laurentian Bank will be covered by a new collective agreement until the end of 2021.

The bank has announced that the new employment agreement, signed on March 29, 2019, includes a modification of the bargaining unit so that it applies almost exclusively to the bank’s client-advice services across its Quebec branch network.

The agreement will also offer compensation that is competitive within the Canadian banking industry and assists career progression within the organization.

"This is one of the most significant events in our organization's history: our employees have clearly expressed their commitment to move forward towards a performance culture, towards the success of Retail Services and towards a modern, better and different Bank." said François Desjardins, President and Chief Executive Officer of Laurentian Bank Financial Group.

Among other things, the new agreement supports performance on several fronts as it:

  • gives access to positions focused on financial advice;
  • replaces job security with personalized transition measures, including severance packages;
  • prioritizes individual performance and qualifications as key decision-making criteria for appointments, promotions and career progression opportunities for professional positions;
  • allows flexible working conditions based on the needs of customers while promoting a better work-life balance for our employees.

"Our employees deserve success - I am very proud that we are able to give them a winning agreement. We can now focus fully on realizing our strategic plan and continue to transform our branch network while providing jobs of the future and becoming more competitive." added François Desjardins.

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