Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
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).
Eurofound (2016), Banca Nazionale del Lavoro, Closure in Italy, factsheet number 89082, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89082.
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