Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

1,300 jobs
Number of planned job losses
Job loss
Announcement Date
2 August 2007
Employment effect (start)
3 September 2007
Foreseen end date
3 September 2009


Banking group Intesa SanPaolo S.p.A. is to cut 1,300 jobs between 2007 and 2009. The announcement follows an agreement between managers and trade unions at the firm over a re-organisation plan for the 2007-9 period. The agreement also specifies that redundant workers will benefit from a special ‘solidarity fund’ to aid them, and that the group will recruit one apprentice worker for every two workers that are dismissed. The latest round of job losses at Intesa SanPaolo S.p.A. follow the many redundancies that occurred after Banca Intesa and San Paolo-Imi merged in November 2006 to create Intesa Sanpaolo S.p.A.. In this instance, 5,200 job losses were announced after an agreement was reached between managers at the new group and trade unions.


  • 3 August 2007: Il corriere della sera
  • 3 August 2007: La Stampa


Eurofound (2007), Intesa SanPaolo, Internal restructuring in Italy, factsheet number 65674, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65674.