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

683 jobs
Number of planned job losses
Job loss
100 jobs
Number of planned job creations
Job creation
Announcement Date
12 October 2016
Employment effect (start)
1 January 2017
Foreseen end date
31 December 2020


Italian banking group Banca Nazionale del Lavoro (BNL) announced a net reduction of its headcount at least by 583 workers.

The measure is part of the 2017-2020 industrial plan, aimed at reducing operating costs and reorienting the activities towards  multi-channel services and corporate clients.

The plan also envisages the closure of 100 local branches, the demotion of 40 managers, the retraining of 500 employees and wage cuts.

In order to achieve the expected staff reduction, the bank is to cut 683 jobs, possibly by incentivising early retirements of those qualifying for retirement by 2019-2020. Also 100 entrances are envisaged by means of hiring of new employees and stabilisation of temporary workers.

Negotiations with unions will begin soon. Unions remarked the plan makes workers bear the costs of bad management. Their intention is to ensure that all exits are implemented on a voluntary basis.

BNL had previously agreed a staff turnover plan (see Banca Nazionale del Lavoro IT2016-1).


  • 12 October 2016: Milano Finanza
  • 12 October 2016: Italia Oggi
  • 12 October 2016: Wall Street Italia
  • 13 October 2016: Il Sole 24 Ore


Eurofound (2016), Banca Nazionale del Lavoro, Internal restructuring in Italy, factsheet number 89082, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89082.