Credit and labour

BancoBpm, rift between trade unions in negotiations on cuts

The industrial plan envisages 1,630 exits. Already 484 employees of the bank have said yes to the incentives.

Bpm Piazza Meda Sede Banca popolare di Milano

3' min read

3' min read

Negotiations had been broken off. The representatives of Banco Bpm were to meet again on 10-11 July with the national secretaries of the five banking trade unions in order to reknit the threads on the incentive exit of 1,630 people. On Thursday morning the change of plan: according to leaks, the representatives of the credit institution led by Giuseppe Castagna, in the context of a meeting on other issues, also put on the table the question of the incentive plan and the solidarity fund, used by banks during restructuring. At that point, the delegations of three unions (First-Cisl, Fisac-Cgil and Uilca) left the room, unlike Fabi and Unisin. Thus the rift between the workers' organisations was sanctioned.

The numbers

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What emerged from the table on Thursday morning? From the note circulated by Fabi, it emerges that 484 employees adhered to the company's proposal to offer 2 to 4 monthly payments for old age retirement and 4 to 6 for early retirement. To those who adhered to the incentive proposal, 182 employees who will accrue an old-age pension in the two-year period 2025-2026 should be added.

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This brings the total to 666. And for the other thousand? 'If an agreement is not reached,' reads the Fabi note, 'in the context of the solidarity fund, the company has already said it is ready to continue the incentive to retire, even for the year 2026, so as to reach the numbers envisaged by the industrial plan even without the confrontation with the trade union'.

Unshakable bank

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Negotiation margins of zero then. This at least also seems to emerge from the position of Banco Bpm, questioned by Plus24: "The bank began negotiations with the unions on 7 March and is satisfied with the incentive campaign started at the beginning of June, a campaign that will end at the end of June. The bank will guarantee the numbers of the industrial plan, which foresees a delta of 800 people between entries and exits'. It goes on to say that 'the bank will continue to seek an agreement'.

But if the ratio of incomings to exits remains 2:1, it will be hard to find an agreement with the three unions that have left the table and represent the majority of employees at the bank in Piazza Meda; First Cisl, Fisac Cgil and Uilca say they are aiming for more hirings to alleviate the workloads of the remaining employees and to guarantee a better service to customers.

Unions and protections

In 2023, there were 19,761 Banco Bpm employees, 46.45% of whom were women. In the industrial plan, in addition to the exits, 800 people are planned to be hired, 200 of whom are IT.tech specialists. All unions, however, had pointed out in recent weeks that those figures had to be shared. In a joint note of the five trade unions dated 24 May, the point was reiterated, emphasising that the bank 'has never, in more than two months, made any numerical proposal regarding the hirings to be carried out in relation to the planned exits other than that contained in the industrial plan and never shared with the trade unions'.

Collective or individual agreement?

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The trade unions also warned colleagues willing to accept the proposal because, without a collective but individual agreement, they risk being at the mercy of future changes in the legislative framework. "If, as happened for some groups of public workers, the calculation of the early retirement pension were to become all-contributory," reads the joint 'Notice to Mariners' communiqué of 27 May, "this would result in a decrease in the pension cheque of around 200/300 euros per month compared to the current pension estimate. Just to give an example, something similar to the effect of the 'woman option''.

Solidarity Fund

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Hence the fundamental activation of the bankers' solidarity fund, the real 'shock absorber' for so many restructuring plans of Italian banks in recent years. But to join the fund, explain the workers' representatives, the signature of the unions is needed. If all parties do not return to the negotiating table, it would be the first time that an Italian bank carries out restructuring without drawing on the solidarity fund's facilities.

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