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.
Banco BPM, an Italian banking group, has announced a strategic workforce adjustment plan involving approximately 1,600 voluntary departures through early retirements and the recruitment of 800 new employees, resulting in a 2 to 1 departure-to-hire ratio.
This plan has not been well received by the three involved unions: First, Fisac, and Uilca. Upon reviewing the company's objectives, these confederal unions decided against further discussions, expressing concerns over the substantial number of exits and demanding a higher ratio of new hires to better balance the workforce reduction.
Despite the lack of union agreement, Banco BPM appears determined to move forward with its plan. As of now, around 500 employees have already accepted the terms for an incentivized exit.
Eurofound (2024), Banco BPM, Internal restructuring in Italy, factsheet number 201372, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201372.
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