Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

1,500 jobs
Number of planned job losses
Job loss
Announcement Date
3 December 2020
Employment effect (start)
Foreseen end date


The banking institute Banco BPM announced its decision to close 300 small branches and consequent redundancies for 1,500 workers.

The decision is connected to the strong growth in digital banking and the decrease in physical access to branches, and it has the declared goal to strengthen larger branches, allowing to offer customers greater advice and services at those locations.

The dismissals will take place on a voluntary basis and will be supported by the sectoral Solidarity Fund, which should accompany workers to retirement.

Employees who are styaing in employment will be involved in a training  programme to equip them to perform new tasks.



Eurofound (2020), Banco BPM, Internal restructuring in Italy, factsheet number 102746, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/102746.