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Finance

Amundi's Italian unit reaches accord with unions over layoffs, unions say

Published by Global Banking and Finance Review

Posted on June 26, 2025

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MILAN (Reuters) -Union representatives at the Italian arm of France's Amundi, Europe's biggest asset manager, said on Thursday they had reached an accord with the company over layoffs.

The accord to cut 50 jobs in Italy entails incentives for early retirement and voluntary exits as well as reassignments within Amundi or its parent Credit Agricole group, unions First Cisl, Cgil FISAC and UNISIN said in a statement.

Gianluca Ceriani, UNISIN-CONFSAL head for the Lombardy region, said the accord contained a safeguard clause, including for executives, that any further potential headcount reduction would be managed in accord with unions by using the legal tools envisaged by the national contract for the industry.

(Reporting by Valentina ZaEditing by Keith Weir)