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

895 jobs
Number of planned job losses
Job loss
Announcement Date
26 March 2010
Employment effect (start)
1 September 2010
Foreseen end date


UBI Banca, one of the main Italian banking groups, is to cut 895 jobs by the end of 2010. The group has announced a broad reorganisation process, which includes the closure of 99 branches. The trade unionsĀ  reacted harshly to the UBI decision, announcing several protest actions.

On 20 May 2010, the bank and the trade unions have reached an agreement that provides economic incentives for the redundant workers with a view to retirement (around 500 redundant workers will reach all the requisites needed for retirement by the end of 2010). Moreover the agreement envisages the "stabilization" of around 500 young workers with the conversion of flexible work contracts into standard employment contracts.

The UBI Banca has around 20,000 employees.


  • 21 May 2010: MilanoFinanza
  • 3 April 2010: Il Sole 24 Ore


Eurofound (2010), UBI Banca, Internal restructuring in Italy, factsheet number 70388, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70388.