UniCredit to Offer Voluntary Early Retirement for 5,200 Staff
April 02 2020 - 1:30PM
Dow Jones News
By Jessica Sier
UniCredit SpA said late Thursday it had signed an agreement with
the Italian trade unions to restructure its workforce.
The Italian bank said it will offer 5,200 full-time employees
voluntary early retirement over the next four years, with 800
employees to undertake retraining and upskilling.
UniCredit will also hire 2,600 new staff, and convert 900
apprenticeships into standard employment contracts.
The company confirmed a 1,430 euro ($1,567) annual bonus
accessible through a welfare mechanism or EUR880 in cash. UniCredit
said these productivity bonuses will increase 10% year on year.
The company has also introduced a 10-day paid paternity leave
policy, and is investing in two new offices in southern Italy.
Write to Jessica Sier at jessica.sier@wsj.com
(END) Dow Jones Newswires
April 02, 2020 13:15 ET (17:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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