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 64.1 - Monetary intermediation
650 jobs Number of planned job losses
Announcement Date
18 July 2012
Employment effect (start)
Foreseen end date
31 December 2014
Description
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.
Eurofound (2012), Ubi Banca, Internal restructuring in Italy, factsheet number 73912, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73912.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
