The Monte dei Paschi group has communicated to the company trade union organizations that the objective of reducing the workforce for the year 2017 has been achieved, as envisaged by the trade union agreement of 3 August last.
A further 1200 workers have applied to join the sector's Solidarity Fund, as they will accrue the right to an INPS pension over the next five years and in any case no later than 31 October 2022.
As stated by Ilaria Dalla Riva, the Bank's human resources manager, there are a total of 1800 workers, of whom 600 on the basis of the previous agreement of 23 December last, who enter the Sector Fund in 2017, allowing the MPS Group to proceed , with balance and attention to social sustainability, in full compliance with the objectives set by the 2017-2021 Restructuring Plan in terms of personnel.
Over the period of the Plan, a reduction in the workforce of 5500 units is envisaged, to be achieved with 4800 adhesions to the solidarity fund, 750 departures due to physiological turnover and 450 departures due to the sale of foreign branches, which will be matched by 500 new hires for the generational change.
When fully operational, the cost of labor will be reduced by 20%, going from one billion and 611 million in 2016 to one billion and 319 million in 2021.
Furthermore, the agreement, while complying with the cost and workforce reduction objectives envisaged by the Restructuring Plan, safeguards the logic of overall social equity by recalling the measures already envisaged by the previous agreement of 23 December 2016.
Furthermore, company welfare conditions continue to be guaranteed to workers placed in the Fund, such as medical expenses, maintenance of the position opened in the company welfare funds, credit facilities, conditions and services in force from time to time for workers in service.
The implementation of the agreement, with the full involvement of the union, is therefore a further step for future negotiations related to industrial projects and organizational restructuring related to the bank's new scenario.
