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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
674 jobs Number of planned job losses
Announcement Date
29 October 2009
Employment effect (start)
Foreseen end date
31 December 2011
Description
Banca Popolare Milano (Bpm) is to cut 674 jobs by the end of 2011. The bank and the trade unions envisage the recourse to economic incentives for voluntary resignations and the recourse to the sectoral special fund, created by the social partners, in order to manage corporate crises, restructuring, and the labour surpluses that may follow.
Bpm has 7,500 employees in Italy.
Sources
30 October 2009: Il Sole 24 Ore
Citation
Eurofound (2009), Banca Popolare Milano, Internal restructuring in Italy, factsheet number 69839, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69839.
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