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

309 jobs
Number of planned job losses
Job loss
100 jobs
Number of planned job creations
Job creation
Announcement Date
23 December 2015
Employment effect (start)
31 January 2016
Foreseen end date
31 December 2017


Ubi Banca, an Italian banking group, agreed with unions a net reduction of its headcount by 309 units, to be achieved by means of 409 exits and 100 hirings.

The decision follows the agreement signed in November 2014, when the company offered incentives for up to 500 voluntary dismissals (see previous reported case Ubi BancaIT-2014), but the number of workers disclosing their intention to accept the offer exceeded the target by 339 units.

For this reason, on 23 December 2015, the group agreed to fund further 409 incentivised voluntary dismissals, mainly early retirements, with effect from 31 January 2016 for the 339 workers having already expressed their intention to leave the company, and from 31 March 2016 for further 70 workers.

In view of these voluntary layoffs, the company will implement 100 hirings and turn 60 temporary contracts into open-ended ones over the period 2016-2017, giving priority to young people.

Unions are very satisfied because the agreement envisages both job opportunities for young people, and the possibility for older workers to retire earlier.


  • 29 December 2015: Il Sole 24 Ore
  • 29 December 2015: Varese News
  • 5 January 2016: Trade union - press release


Eurofound (2015), Ubi Banca, Internal restructuring in Italy, factsheet number 86094, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86094.