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 Activities Auxiliary To Financial Services And Insurance Activities Activities Auxiliary To Financial Services And Insurance Activities 66 - Activities auxiliary to financial services and insurance activities
1,700 jobs Number of planned job losses
Announcement Date
23 July 2010
Employment effect (start)
1 July 2008
Foreseen end date
1 July 2011
Description
Monte dei Paschi di Siena, a major Italian bank, has announced 1700 job losses as part of its belatedly confirmed 2008-2011 industrial plan, originally announced in 2008 after a merger with Antonveneta bank. The plan envisages the reduction of the workforce from 34,200 employees in 2007 to 32,500 in 2011.
In July 2010 the trade unions expressed their concern that the plan would go ahead and said they fear even more job losses.
Sources
24 July 2010: Il Sole 24 Ore
Citation
Eurofound (2010), Monte dei Paschi, Internal restructuring in Italy, factsheet number 70772, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70772.
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