Mps, 4,000 jobs at risk: the plan

A new industrial plan is discontinued with the previous plan, which provides for a capital increase of 2.5 billion euros. This is what was created by the Board of Directors of Monte dei Paschi di Siena, approving the Strategic Plan for the period 2022-2026, which replaces the old, which had a horizon of 2025. A document that must be examined by the European Central Bank and the European Commission, which does not contain accurate information on The number of layoffs, set by trade unions, is about 4 thousand.

Mps, capital increase and 4,000 jobs at risk: repeat rate

The figure could have been obtained from CEO Guido Bastianini’s report, submitted to the Banking Investigation Commission led by M5s deputy, Carla Rocco, in which 4,000 departures from Mps employees were assumed (here we have a summary The history of Monte dei Paschi goes way back since the failure of the Unicredit acquisition).

The January computed share of 2,500 layoffs for the current 21,300 employees would not be more appropriate (here we assumed the number Repeat in case of integration with Unicredit).

They will all be “voluntary layoffs and agreed with the unions,” according to the CEO of Sienese Bank, at an estimated cost of About 950 million euros against 315 million in savings starting in 2026.

“Preparation of the new plan will require a few weeks of work, comparison with the DG competition is presumed The possibility of a company able to walk on its own feet‘, select Bastianini.

He continued that given that the bank is in the state aid system, “we will have to review the perimeter of the group, remove the unprofitable parts, and the cost structure, especially the staff, and perhaps the only ones will have to be examined. The component in which MPs failed to complete the ‘2017 public bailout agreements’.” While obligations on branches and non-performing loans continued.

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According to the Chairman of the Banking Committee, Carla Rocco, it will be necessary to “obtain from the European Union an adequate extension of at least twelve months. Europe will not find it difficult to meet the demand “.

Mps, capital increase and 4,000 jobs at risk: the plan

The goals of the new plan, for a “new and leaner MPS” which forecast a pre-tax profit of around 700 million for 2024, must pass through Brussels approval. Moreover, the European Commission has yet to express its opinion on the timing and methods of the exit of the Ministry of Economy and Finance from the capital of the bank in which it contributes 64.23%.

Thelma Binder

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