EMCC European Monitoring Centre on Change

San Paolo IMI

San Paolo IMI

Geographic Location

Country: Italy


Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Number Employed: 33270

Employment Effects

Announcement Date: 11-02-2003
Planned Job Reductions min: 2000
Planned Job Reductions max: 2000
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-01-2003
Foreseen End Date: 01-02-2005

Additional Information

The Company industrial plan 2003-2005 (presented to the financial community on Tuesday, 11 February 2003) oversees 2000 redundancies. The company has not yet made clear how the lay-off will be carried on.