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 Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.19 - Other monetary intermediation
266 jobs Number of planned job losses
132 jobs Number of planned job creations
Announcement Date
26 October 2017
Employment effect (start)
1 January 2018
Foreseen end date
31 December 2020
Description
Ubi Banca announced 398 exits and the hiring of 132 young workers in its Italian branches.
The decision was agreed with unions in the framework of negotiations concerning the effects of the 2019-2020 industrial plan and the recent acquisition of three banks (see also UBI BancaIT-2017).
The exits will be implemented on a voluntary basis, by means of incentivised early retirements.
Unions are satisfied with the agreement, as negotiations started with the intention of the bank to externalise a large number of workers (1,318), an option that was eventually avoided.
Sources
26 October 2017: CentroPagina
26 October 2017: Il messaggero
27 October 2017: Il Sole 24 Ore
Citation
Eurofound (2017), Ubi Banca, Merger/Acquisition in Italy, factsheet number 92888, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92888.
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