EMCC European Monitoring Centre on Change



Geographic Location

Country: Italy


Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding

Employment Effects

Announcement Date: 02-10-2002
Planned Job Reductions min: 5246
Planned Job Reductions max: 5246
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-10-2002
Foreseen End Date: 01-03-2004
Direct Dismissals: 1200
Other Job Reduction Measures: 4046

Additional Information

1530 dismissed workers will benefit of a special public fund aimed to support the bancking industry restructuring. 1200 employees will be dismissed throught the selling of 120 bank counters to other banks.