B as a bank - Banco Popular plans 500 redundancies in 2011
by the "Sole 24 Ore" of Friday, October 8, 2010, page 23
Credit. The plan of the 2010-11
sixteenth cuts Banco Popolare
Nicola Borzi
crisis weighs' and makes it extremely uncertain prospects ", dunque «è indispensabile assumere iniziative strutturali» pur in un confronto che individui «modalità di intervento condivise». Queste le basi sulle quali ieri il Banco Popolare ha presentato in via preliminare ai sindacati le linee guida sugli organici per il 2010-2011. Che, a fronte 80 nuove assunzioni, prevedono 800 uscite: 300 entro quest’anno, 500 in programma nel 2011. Perché i conti vanno rianimati, l’istituto ripatrimonializzato ( Basilea 3 incombe) e gli azionisti tranquillizzati.
Il terzo gruppo creditizio nazionale, sorto il primo luglio 2007 dalla fusione tra Banca Popolare di Verona e Novara and Italian Popular , has 20,329 employees and 2,271 branches. But the financial crisis first and then the recession, as well as the events Italease Fiorani and have left their mark. To redress this is not enough supply of Caripe to Tercas , closed in recent days with a profit of 228 million. The company wrote that "three years after the birth of the group, the objectives of the Business Plan 2007/10 appears to be strongly divergent than expected." Euphemism, because the net "even excluding the negative result of 2008 was down 68.1% in the period 2007-09," while the operating margin was down 30.4% and there is "a significant reduction in net interest and commission income."
Besides, the 2007-10 plan aimed at a growth that has not been realized: the cost income, expected in late 2010 to 43% at the end of 2009 was at 66.6%, the Expected ROE was 14.6% at 2.4 and revenue per employee, which were expected to reach € 294mila, were standing at 182 thousand. That is why the Banco Popolare will reduce operating costs. Including that of staff who, without structural, an increase of 105 million in 2011 INS.
is the ratio the decrease of 300 employees by year end. As for 2011, requires "a structural reduction in costs at least 50 million" with "a structural reduction in staff of 500 resources' in the directions 200 and 300 on the network, down to 19,467 units year-end. Come out to accomplish that with the 100 block of turnover, assuming the 100 Solidarity Fund the remaining employees are excluded from the agreement in 2008 because their applications were in excess of those scheduled, the remaining 300 people who have already completed the pension requirements and will go dormant with the windows next year.
To sweeten the pill, the management reminded how good built between 2007 and 2009: over a thousand employees fixed-term stabilized the network in more than 120 (14 870 at the end of 2009). But pending the negotiations, which will snap at the end of the month, the unions demanded the confirmation of voluntary and total expenses above the new organizational model of the group, which has not yet been presented.
Figures
880
The outputs 2010-2011
To be implemented with blocking turnover, retirements Solidarity Fund and the credit
80
New hires
provided by agreements signed on the establishment of the group in July 2007
€ 105 million
Increased labor costs
The inertial effect on the accounts in the case of no structural
€ 50 million
The Cutting structural 2011
The request of the bank unions' cost
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