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 - Financial service activities, except insurance and pension funding
140 jobs Number of planned job losses
Announcement Date
27 September 2019
Employment effect (start)
Foreseen end date
Description
As part of its Strategic Plan 2019-2024 approved by the Board of Directors on September 26, 2019, the banking company Banca Intermobiliare (BIM) announced its intention to dismiss 140 workers. Collective dismissal procedures started on September 27, 2019.
The decision is connected to the difficult economic situation BIM is experiencing for several years (in 2018, the bank counted losses for €158 million) and to the conditions posed by the majority shareholder, the fund Attestor, for a capital increase.
The trade unions defined the restructuring plan as socially irresponsible and said the union will fight for a plan with voluntary departures and early retirement, refusing alternatives such as tranforming employees' contracts into contracts for self-employed workers.
Banca Intermobiliare currently employs 423 workers.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
