Unicredit, this is where Orcel’s scissors will be cut
What does the Unicredit redundancy plan provide? Facts, numbers, rumors
Great maneuvers by Orcel to redesign Unicredit's presence in the world. Here are the latest rumors about the staff reorganization plan with redundancies and voluntary exits.
The Unicredit group is planning about 3 thousand new cuts for a simplification process that will mainly concern the central management. Bloomberg writes it explaining that the intervention on the workforce is part of the strategic plan signed by Andrea Orcel which will be presented on December 9th. The final numbers are still under review, sources point out to the American agency.
The cuts will affect Italy and offices abroad. The group now has about 87,000 employees.
The exits – according to what is learned – will take place in Italy on a voluntary basis through early retirement and new hires could also be planned.
HERE IS THE NEW UNICREDIT CUTTING PLAN
The new cut-off plan adds to the approximately 3,900 that have yet to be implemented based on the bank's previous strategic plan, already agreed with the unions and employees. The plan also provides for a centralization of activities in Milan in the face of a reduction in the London staff.
THE PURPOSES OF ORCEL IN UNICREDIT
The declared goal of the CEO Andrea Orcel , moreover, is to simplify the processes and de-bureaucratise: the optimization action should therefore focus on the back-office activities, leaving instead the commercial network substantially safe, on which the banker intends instead. push with a plan of growth with respect to the masses.
WHAT IL SOLE 24 ORE HAS WRITTEN ABOUT UNICREDIT EXUBEROSES
The 3 thousand redundancies, according to the reconstruction of the Sole 24 Ore, would be voluntary and would exclusively take the form of early retirement, with slides up to 7 years. And they should also include, according to sources, the cuts planned on the bank's non-EU network, where about 5-600 cuts are expected.
WHAT THE RATIONALIZATION OF UNICREDIT WILL BE
With the guidance of Orcel , UniCredit is in fact studying a decisive rationalization of the network and the workforce in its international offices to avoid duplication: the object of intervention, also in this case, will be the back office activity of the international hubs which will be lightened or dismantled. to keep only the relational activity with the customer.
WHAT WILL HAPPEN TO THE FOREIGN OFFICES OF UNICREDIT
With the exception of reference poles such as New York for example, several peripheral offices such as Athens, Tokyo and others in the Far East and the rest of the world would be closed.
HOW THE PRESENCE OF UNICREDIT ABROAD WILL BE REDESIGNED
Consequently, activities such as trading in non-EU countries would be concentrated in Milan – adds Il Sole 24 Ore – while treasury activities would be shared between the Lombard capital and Munich, home of the German subsidiary Hvb. The risk area or finance would also be centralized in the core countries.
FEARS AND EXPECTATIONS OF TRADE UNIONS
Union sources say that the 3,000 exits are not yet a definitive number, also because they should be compensated by new entries of young people. We will see what the approach followed by the bank will be, but in other agreements signed between banks and unions the banking institutions have provided for entries in the ratio of at least one for every two exits.
WHAT THE UNIONS SAY ACCORDING TO THE PRESS
"We will verify the possible reasons – comments the general secretary of Uilca, Fulvio Furlan, we read in La Stampa – and in any case we will ask that the exits take place through the voluntary redundancy fund (financed by the banking sector, ed) and with new hires for the maintenance of employment ". It should be remembered that the latest trade union negotiations ended with the agreement of a new entry in the face of two redundancies. The secretary general of First CISL, Riccardo Colombani, expects the new Unicredit plan to have a strong digital footprint, an expectation consistent with the possibility of a new round of releases.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/unicredit-ecco-dove-tagliera-la-forbice-di-orcel/ on Thu, 02 Dec 2021 06:56:09 +0000.