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Intesa signs accord with unions for 2,000 early staff exits, 1,100 new hires -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Intesa Sanpaolo Logo is seen in Milan (Italy), January 18, 2016. REUTERS/Stefano Rellandini

MILAN (Reuters – Italy’s largest bank Intesa Sanpaolo has agreed to a deal with the unions. This will allow for the quick exit of 2,000 employees, which will partly be offset by the 1,100 new workers.

FABI stated that exits are voluntary and employees have the right to take their retirement early. New hires will also be given a permanent contract.

Giuseppe Milazzo, FABI Secretary General, stated in a statement that “We took timely action before the new program where digitalization will play an important part.”

Intesa was merged with UBI in Italy last year, creating Italy’s leading bank.

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