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

1,730 jobs
Number of planned job losses
Job loss
Announcement Date
17 February 2020
Employment effect (start)
Foreseen end date
31 December 2022


The UBI Banca banking group presented its new business plan which includes a staff reduction of around 2,030 people by 2022, and a digitalisation of the bank's activities. The announced redundancies also include the 300 workers whose dismissal was already part of an agreement with the trade unions reached in December 2019. The new restructuring, therefore, entails 1,730 job losses. The restructuring plan also includes the closure of 175 branches.

The CEO of the institute argued that there are plans to guarantee a partial generational change, but provided no information on new recruitments.

Currently, the company employs 19,955 workers in Italy.



Eurofound (2020), UBI Banca, Internal restructuring in Italy, factsheet number 99796, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99796.