EMCC European Monitoring Centre on Change

Banca Carige

Company/Organisation:
Banca Carige

Geographic Location

Country: Italy

Company

Sector: Financial services
Financial and insurance activities
64.19 - Other monetary intermediation
Number Employed: 4742

Employment Effects

Announcement Date: 14-09-2017
Planned Job Reductions min: 400
Planned Job Reductions max: 400
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-12-2020

Additional Information

Italian banking group Banca Carige announced the dismissal of about 400 employees by the end of 2020.

The company is implementing a large restructuring plan aimed at strengthening its capital base. The plan also entails the closure of about 120 branches and the disposal of assets, including the group’s consumer credit company Creditis.

The redundancies add up to those initially announced in the 2017-2020 industrial plan for a total number of about 1,000 exits between 2017 and 2020 (see Banca CarigeIT-2016).

Unions oppose the plan and are holding assemblies. They also call for the implementation of the dismissals on a voluntary basis.