Italy: UniCredit agree with trade unions on 5,200 early retirements to be partly made up by 3,500 hirings and the stabilization of precarious employment contracts

In less than two months, UniCredit banking group and the relevant trade unions have managed to conclude tense negotiations on 6,000 job cuts that are part of the bank’s 2023 strategic plan (c.f. article No. 11649). The agreement provides for 5,200 voluntary early retirements along with retraining for 800 employees. In addition, the trade unions have succeeded in ensuring that almost 70% of the departures will be made up by fresh hires. The agreement also introduces improvements in terms of company welfare and work-life balance.

Through . Published on 07 April 2020 à 15h12 - Update on 07 April 2020 à 15h10

Coming at a particularly difficult time for Italy, the agreement signed on 2 April by UniCredit and the unions FABI, First-Cisl, Fisac-Cgil, Uilca and Unisin will serve as a reference point for the sector, according to the unions.

An early retirement plan based on several arrangements. Under the agreement, 5,200 volunteers will be able to take early retirement over the next four years,…

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