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

450 jobs
Number of planned job losses
Job loss
Announcement Date
1 April 2015
Employment effect (start)
1 September 2015
Foreseen end date
31 December 2017


Italian bank Veneto Banca has announced its intention to reduce its headcount by about 450 employees by the end of 2017. The decision was disclosed during the presentation of the 2015-2017 business plan. The plan entails the closure of 70 branches and the reduction of administrative, management and labour costs. It also envisages new investments aimed at orienting the group toward multichannel banking and improving risk and credit management.

The unions have critised the plan for being short-sighted, as it aims at counterbalancing budget losses curtailing employment. Negotiations about dismissals are expected to take place in the next months.

The ERM has reported previous restructurings announced by the bank in 2011 and 2012.


  • 1 April 2015: VicenzaPiù
  • 1 April 2015: Trade unions - Press release
  • 1 April 2015: Veneto Banca - press release


Eurofound (2015), Veneto Banca, Internal restructuring in Italy, factsheet number 79432, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/79432.