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.
The Italian banking group Banca Nazionale del Lavoro (BNL), a subsidiary of BNP Paribas, is to reduce its headcount by 209 employees, as a results of 279 exits and 70 new hirings. The job cuts are part of a plan aimed at steering the business model toward multichannel services and they have been agreed with unions after a two-month negotiation. The plan will affect BNL as well as its subsidiary BPI, in charge of providing the group support services (for example administrative services, real estate asset management, vocational training).
The company will provide incentives for 279 early retirements, and hire 70 workers to be chosen among those having prior work experience at BNL (60) and disadvantaged workers (10), namely people with disabilities or unemployed people currently receiving unemployment allowances granted by the sectoral paritarian fund. In addition, BNL will retain 100 employees currently employed on a fixed-term basis, and internally relocate 90 workers, which will be trained for this purpose.
Unions stated that the agreement enabled to implement a staff turnover, granting redundant workers the access to pension, and new job opportunities.
Eurofound (2015), Banca Nazionale del Lavoro, Internal restructuring in Italy, factsheet number 86513, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86513.