Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Intesa Sanpaolo, one of the main Italian banking institutes, reached an agreement with the sectoral trade unions, which envisages some measures aimed at managing 600 job cuts. In particular, the agreements provides for economic incentives for voluntary dismissals and the recourse to the sectoral “solidarity fund” for workers who will reach all the requisites for retirement within the end of September 2017.
The job cuts are part of reorganisation and merger processes that have involved some sectoral or territorial Intesa Sanpaolo banks, that is Banca Infrastrutture Innovazione e Sviluppo, Casse Risparmio Umbria, Neos Finance, Intesa Sanpaolo Personal Finance, Banca Adriatico and the central administrative division of the bank. Moreover, the agreement envisages the creation of 100 new jobs: the workers will be hired with apprenticeship contracts starting from January 2014.
Intesa Sanpaolo has around 70,000 employees in Italy.
Eurofound (2013), Intesa Sanpaolo, Internal restructuring in Italy, factsheet number 75290, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75290.
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