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.
Banco Popolare, one of the most important Italian credit institutes, is to cut 800 jobs by the end of 2011. The group has announced the 2010-2011 reorganisation plan which envisages 800 job-cuts (300 in 2010 and 500 in 2011). According to the Banco Popolare, the economic crisis has forced the group to reduce its costs. In order to reduce the negative effects of the redundancies, the institute has announced the recourse to a lower job turnover and to the 'solidarity fund' for the Italian banking sector. Banco Popolare has 20,329 employees and 2,271 branches.
Eurofound (2010), Banco Popolare, Internal restructuring in Italy, factsheet number 71087, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71087.