Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.11 - Central banking

710 jobs
Number of planned job losses
Job loss
Announcement Date
12 September 2007
Employment effect (start)
1 October 2007
Foreseen end date
1 October 2010


The Bank of Italy, the central bank of Italy, is to close 33 of its branches across Italy with the loss of 710 jobs. The series of closures is part of a re-organization plan on the part of the bank that was announced on 12th September 2007. The plan is intended to streamline the bank’s operational structures and to increase its efficiency. The plan also sets out a new regional model for the operation of the bank that will lead to both the closure of the 33 branches and the differentiation of the functions of those branches that remain open. The re-organization plan is scheduled to be completed by the end of 2010. Management at the bank and Italian trade unions are due to meet before the end of 2007 in order to discuss the social implications of the bank’s restructuring plan.

The Bank of Italy is a public-law institution that pursues a set of policy goals in monetary and financial policy. It operates 97 branches in 95 provincial capitals, and employs 8,000.


  • 13 September 2007: Il Diario del lavoro


Eurofound (2007), Bank of Italy, Closure in Italy, factsheet number 65819, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65819.