BNP Paribas Italy Talks Worker Protections Amid Strategic Banking Overhaul
Union Discussions and Strategic Plans at BNP Paribas Italy
Ongoing Negotiations to Safeguard Worker Protections
MILAN, July 22 (Reuters) - Unions at the Italian arm of BNP Paribas have entered discussions with the bank's management to ensure changes in Italy under a new strategic plan expected to be presented in November respect worker protections, a union leader said on Wednesday.
Focus of the New Strategic Plan
Strengthening Corporate Investment Banking
The plan is aimed at strengthening corporate investment banking activities and focusing resources on "large corporate" clients, said Gianluca Ceriani, a UNISIN/CONFSAL union representative.
Balancing Ambitious Goals with Employee Rights
"BNP Paribas has set ambitious goals in terms of returns and cost control. It's key that these goals are combined with workers' protection. That is why we must keep our guard up," he said.
Union Representation and Workforce Trends
Leadership in the European Works Council
In June, Ceriani became deputy secretary general of BNP's European Works Council, an employee body which represents around 132,000 staff.
Impacts of the Strategic Plan on Employment
A person briefed on the bank's strategy said the plan would not lead to a downsizing of BNP's presence in Italy.
Trends in Employee Numbers and Centralisation
However, Ceriani said the number of BNP Paribas employees in Italy had been falling faster than in the rest of Europe in recent years, as certain activities were centralised in regional hubs and others outsourced, a move which unions have in some cases managed to stop.
BNP Paribas’s History and Market Position in Italy
France's BNP Paribas has operated in Italy since its 2006 acquisition of local bank BNL. Unlike French rival Credit Agricole, for which Italy is the main foreign market, it has not been growing its local presence through acquisitions.
Recent Workforce Data
Ceriani said BNP Paribas Italy had a staff of 15,724 at the end of last year, down by a fifth versus 2018.
Over the same period the total of employees across the 22 countries represented on the bank's European Works Council has decreased by 7%, he said.
(Reporting by Valentina Za; Editing by Emelia Sithole-Matarise)
