Internal restructuring
Nord Ovest;
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

200 jobs
Number of planned job losses
Job loss
100 jobs
Number of planned job creations
Job creation
Announcement Date
28 November 2014
Employment effect (start)
30 April 2015
Foreseen end date
31 December 2015


Banco Popolare, an Italian commercial banking group, is to cut 200 jobs at group units and subsidiaries located in Northern Italy. The job reduction measure is in line with the group industrial plan that aims at increasing digital banking services while reducing branches and personnel costs. Dismissals will be in the form of voluntary early retirements and will take place in the months of April, November and December 2015. Redundant workers will be entitled to a benefit granted by the sectoral paritarian institution. As reported, for each two voluntary dismissals, a worker will be hired on a stable basis or a fixed-term contract that will be shifted into an open-ended one.  The decision was agreed with trade unions in a wider framework of negotiations, including performance related pay and company welfare provisions. The industrial plan targets entail further staff reductions in the next years. ERM reported on previous restructuring events: see Banco PopolareIT-2006 and Banco PopolareIT-2010.


  • 29 November 2014: L'Arena
  • 28 November 2014: Il Sole 24 Ore


Eurofound (2014), Banco Popolare, Internal restructuring in Italy, factsheet number 77985, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77985.