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.
Banca dei Monte dei Paschi di Siena (MPS), is an Italian bank, which, in the presentation of its Industrial Plan 2022-2026, has foreseen the voluntary exit of 3500 employees. Employees have time to apply for the exit until 30 November 2022. The exit agreement also foresees that for every 2 exits it will be hired a young person, for a total of a maximum of 1750 entries.
The exits will be supported by early retirements through the 7-year solidarity fund (as envisaged by an amendment approved during the parliamentary examination of the 'Milleproroghe' decree-law (law no. 228/2021)), as well as by the important capital increase that will be used to cover the costs of the operation. For those with a net ordinary remuneration of up to EUR 2,850, an extraordinary allowance of 85 per cent is guaranteed. For those with a higher salary, the supplement of the extraordinary allowance is guaranteed to the extent of 80%.
The agreement was reached after consultation with the trade unions, including Fabi, First, Fisac, Uilca and Unisin, which states that it will continue to monitor the situation.
Eurofound (2022), Banca Monte dei Paschi di Siena, Internal restructuring in Italy, factsheet number 107234, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107234.