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

700 jobs
Number of planned job losses
Job loss
Announcement Date
26 July 2012
Employment effect (start)
31 October 2012
Foreseen end date
31 December 2015


Banca popolare di Milano (Bpm), an Italian cooperative bank, is to cut 700 jobs in the next three years. The bank has announced its 2012-2015 reorganisation plan that envisages these redundancies. There will also be retraining courses for around 2,300 employees and an internal reorganization process. Bpm will provide economic compensation and the recourse to the sectoral "solidarity fund" for the redundant workers.

The bank and the trade unions have planned some meetings in order to discuss measures aimed at reducing the negative social and economic effects of the redundancies for the workers.

Bpm has around 8,000 employees.


  • 24 July 2012: Reuters
  • 27 July 2012: Affari e Finanza
  • 24 July 2012: Bloomberg


Eurofound (2012), Banca popolare di Milano, Internal restructuring in Italy, factsheet number 73945, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73945.