Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Banca Popolare di Bari announced the bank's restructuring plan to the trade union, starting the negotiating procedure for its approval foreseen by the sectoral national collective agreement. The plan foresees the cut of 900 jobs - without dismissals - over the next 5 years, the closure of 94 branches (out of 291) and the outsourcing of non-strategic activities.
The redundancies - which correspond to around one third of the company's workforce, which amounts to 3,300 employees - will be managed through the redundancy fund fund foreseen by the sectoral collective agreement.
The trade unions defined the plan as unacceptable since the management had promised a change from the previous resources managemet policy and they deem there is no clear industrial plan for the reorganisation. The trade union asked for a modification of the plan during the negotiations.
Eurofound (2020), Banca Popolare di Bari, Internal restructuring in Italy, factsheet number 100592, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100592.