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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.19 - Other monetary intermediation
250 - 500 jobs Number of planned job losses
250 jobs Number of planned job creations
Announcement Date
6 August 2020
Employment effect (start)
Foreseen end date
1 November 2020
Description
The banking and financial services group Gruppo Montepaschi signed an agreement with the trade unions foreseeing a reduction of the workforce of the group's companies for a total of 500 workers by 1 November 2020 and 250 new hires by the end of 2021.
As usual in the credit sector, rendundancies will take place on a voluntary basis and will be supported by the sectoral solidarity fund 'Fondo di Solidarietà'.
Trade unions expressed their satisfaction for the voluntary nature of the redundancies and for the commitment of the Group to new hires.
Eurofound (2020), Gruppo Montepaschi , Internal restructuring in Italy, factsheet number 101511, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101511.
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