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.
Ubi Banca, an Italian banking group, agreed with unions a net reduction of its headcount by 309 units, to be achieved by means of 409 exits and 100 hirings.
The decision follows the agreement signed in November 2014, when the company offered incentives for up to 500 voluntary dismissals (see previous reported case Ubi BancaIT-2014), but the number of workers disclosing their intention to accept the offer exceeded the target by 339 units.
For this reason, on 23 December 2015, the group agreed to fund further 409 incentivised voluntary dismissals, mainly early retirements, with effect from 31 January 2016 for the 339 workers having already expressed their intention to leave the company, and from 31 March 2016 for further 70 workers.
In view of these voluntary layoffs, the company will implement 100 hirings and turn 60 temporary contracts into open-ended ones over the period 2016-2017, giving priority to young people.
Unions are very satisfied because the agreement envisages both job opportunities for young people, and the possibility for older workers to retire earlier.
Eurofound (2015), Ubi Banca, Internal restructuring in Italy, factsheet number 86094, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86094.