Italy's fourth-largest banking group has signed a series of agreements with its trade unions covering three main areas: generational renewal through 1,100 voluntary early retirements and 1,013 new hires; productivity bonuses and benefits in kind; and the harmonisation of supplementary pension and healthcare schemes.
The agreements signed on 19 December 2024 by the Banco BPM group (around 20,000 employees) and the Fabi, First-Cisl, Fisac-Cgil, Uilca and Unisin trade unions bring to an end almost seven months of negotiations.
Generational renewal
The agreement provides for 1,100 voluntary early retirements using the banking sector’s ‘solidarity fund’, a mechanism that has enabled the major Italian banks to carry out massive generational renewal plans in recent years.
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Article authors
Hélène Martinelli
Freelance