The agreement signed on 23 November by the Italian Banking Association (ABI), Italy's leading bank Intesa Sanpaolo and the trade unions provides for a record pay rise of €435 and a reduction in working time of half an hour per month. Some 270,000 employees are affected by this new collective agreement, which will harness consultation to deal with the changes brought about in particular by digitalisation.
The agreement to renew the national collective agreement, which will be in force until 31 March 2026, is “one of the most important in the history of the sector”, according to Lando Maria Sileoni, general secretary of FABI, Italy’s largest banking union.
Record pay rise and shorter working hours
The average monthly increase will be €435 per employee – a record in the renewal of collective agreements in Italy – distributed in four tranches, 80% of which will apply by September 2024. A lump sum...
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Article authors
Hélène Martinelli
Freelance