Bloomberg News

Intesa, Unions Reach Agreement to Eliminate 3,000 Jobs by 2013

July 30, 2011

July 30 (Bloomberg) -- Intesa Sanpaolo SpA, Italy’s second- biggest bank, reached an agreement with labor unions to cut 3,000 jobs by 2013.

The accord also includes 1,000 new hirings and the reallocation of 5,000 employees to different tasks by the same date, according to a statement posted on the website of banking employee labor union FABI.

--Editors: Dan Weeks, Anne Pollak.

To contact the reporter on this story: Alessandra Migliaccio in Rome at

To contact the editor responsible for this story: Will Kennedy at

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