December 7, 2012 / 8:21 AM / in 5 years

Italy's Pop Milano agrees job cuts with unions

MILAN, Dec 7 (Reuters) - Italian mid-tier lender Banca Popolare di Milano said on Friday it had signed an agreement with trade unions to cut an overall 700 jobs.

In a statement the bank said the job cuts will be achieved through a voluntary redundancy scheme which will cost it 180-200 million euros .

The cost will be booked in 2012 results.

Talks with the trade unions, which began last August, were aimed at achieving structural cost savings of around 70 million euros ($91 million), the bank said. ($1 = 0.7700 euros) (Reporting By Stephen Jewkes)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below