EMCC European Monitoring Centre on Change

Ubi Banca

Company/Organisation:
Ubi Banca

Geographic Location

Country: Italy

Company

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

Employment Effects

Announcement Date: 13-01-2020
Planned Job Reductions min: 150
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-03-2020
Planned Job Creation: 150
Other Job Reduction Measures: 300

Additional Information

The bank Ubi Banca reached an agreement with the trade unions for the voluntary departure of 300 workers. 

The voluntary departures will be supported by the sectoral Redundancy Fund or will take place through retirement, and will start by the beginning of March. 

The agreement for the 300 job reductions reached by the management and the trade unions envisages also 150 new hirings which will take place from the end of June onward.

According to the management, the agreement represents another step of the reorganisation process defined in the 2019-2020 industrial plan. 

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