Internal restructuring
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

650 jobs
Number of planned job losses
Job loss
Announcement Date
18 July 2012
Employment effect (start)
Foreseen end date
31 December 2014


Ubi Banca, an Italian banking group, is to cut 1,500 jobs by the end of 2014. The bank has announced a new reorganization plan, after the 2011-15 reorganization plan presented in 2011 (see here). The new plan envisages new job losses that will be added to the job cuts provided by the previous plan.

The bank provides for the recourse to some national and sectoral measures to reduce the negative social effects for the redundant workers.

UPDATED, 1/12/2012: At the end of November 2012, Ubi Bank and the main sectoral trade unions (without Fisac-Cgil) signed an agreement on the 2012-14 reorganisation plan. The agreement envisages 650 job-cuts, instead of 1,500 as previously announced by the bank. The job-cuts will affect the workers eligible for retirement in the 2012-18 period. The agreement provides some economic incentives for redundant workers and recourse to the sectoral "solidarity fund". Moreover, in the next three years Ubi bank will create 240 new jobs and it maintains the company-level collective agreement until 30 June 2014.

Ubi Banca has around 19,500 employees in Italy.



Eurofound (2012), Ubi Banca, Internal restructuring in Italy, factsheet number 73912, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73912.