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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
1,400 - 1,401 jobs Number of planned job losses
Announcement Date
11 February 2011
Employment effect (start)
1 March 2011
Foreseen end date
1 March 2013
Description
Monte dei Paschi di Siena, one of the leading banks in Italy, announced the 2011-2013 reorganisation plan. The plan envisages a huge reorganisation of bank's structures and divisions, with a loss of 1,400 jobs. The bank and the main sectoral trade unions have planned some meetings in the next months in order to find measures able to cushion the negative effects of job cuts. Monte dei Paschi has around 10,800 employees.
Sources
12 February 2011: Il Sole 24 Ore
Citation
Eurofound (2011), Monte dei Paschi, Internal restructuring in Italy, factsheet number 71688, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71688.
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