Fact Sheet Details
Banca popolare di Milano (Bpm), an Italian cooperative bank, is to cut 700 jobs in the next three years. The bank has announced its 2012-2015 reorganisation plan that envisages these redundancies. There will also be retraining courses for around 2,300 employees and an internal reorganization process. Bpm will provide economic compensation and the recourse to the sectoral "solidarity fund" for the redundant workers.
The bank and the trade unions have planned some meetings in order to discuss measures aimed at reducing the negative social and economic effects of the redundancies for the workers.
Bpm has around 8,000 employees.
Affari e Finanza, 27-07-2012