Type
Internal restructuring
Country
Italy
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

1,000 jobs
Number of planned job losses
Job loss
Announcement Date
13 May 2011
Employment effect (start)
31 July 2011
Foreseen end date
31 July 2015

Description

UBI Banca, one of the main Italian banking groups, announced the 2011-15 reorganisation plan. The plan envisages a wide reorganisation at the branch level and 1,000 job-losses by the 2015. The trade unions harshly criticised the bank plan. Ubi Banca has around 19,700 employees.


Sources

  • 21 May 2011: Il Sole 24 Ore

Citation

Eurofound (2011), Ubi Banca, Internal restructuring in Italy, factsheet number 72213, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72213.