On 02 October, Crédit Agricole's Italian subsidiary and the Fabi, First-Cisl, Fisac-Cgil, UILCA and Unisin trade unions signed an agreement on generational renewal that has been designed to facilitate the merger with Creval bank.
The text provides for 800 voluntary early retirements financed by the banking sector solidarity fund (including a maximum of 470 for the current company CA Italia and a maximum of 162 for Creval bank). These departures will be partly compensated by 500 new hires and the stabilization of 200 workers currently on apprenticeships or fixed-term employment contracts. In addition, incentives will be put in place to encourage the retirement of 200 employees for whom pension rights open by 31 August 20
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