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

800 jobs
Number of planned job losses
Job loss
Announcement Date
7 October 2010
Employment effect (start)
8 October 2010
Foreseen end date
31 December 2011


Banco Popolare, one of the most important Italian credit institutes, is to cut 800 jobs by the end of 2011. The group has announced the 2010-2011 reorganisation plan which envisages 800 job-cuts (300 in 2010 and 500 in 2011). According to the Banco Popolare, the economic crisis has forced the group to reduce its costs. In order to reduce the negative effects of the redundancies, the institute has announced the recourse to a lower job turnover and to the 'solidarity fund' for the Italian banking sector. Banco Popolare has 20,329 employees and 2,271 branches.


  • 12 October 2010: Il Sole 24 Ore


Eurofound (2010), Banco Popolare, Internal restructuring in Italy, factsheet number 71087, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71087.