UBS cuts staff in Italy: 179 outputs incentivized on 600 total employees, there is an agreement with the unions
The agreement concerns managers, paintings, professional areas and must be approved by the workers’ assembly on 29 May
Credit Suisse’s integration has not yet ended for UBS. The institute led by Sergio Ermotti, after presenting the results of the first quarter (1.69 billion dollars of profits), managed to close with the unions an agreement to manage the staff in a reorganization of the entire organic plant. The agreement, signed with Fabi, First Cisl, Fisac Cgil, Uilca, Unisin provides for 179 volunteers out of a total of 600 employees in Italy, therefore almost a third, and will concern all business areas, from professional areas to managers and even figures of minor prominent.
The draft – which must in fact be voted by the workers’ assembly on May 29 – provides that adhesions to the releases are collected by the end of June. Those who accrue the requirements to retire from here to five will be able to leave the bank in advance guaranteed by the banking fund fund, which will allow you to receive about 80% of the monthly salary while the social security contributions will be paid in full. Those who have a different pension horizon will enjoy the slide of the incentive exodus.
The accounts and integration with Credit Suisse
The Swiss banking group beat analysts’ estimates by recording profits in the first quarter for 1.69 billion dollars, driven by the performance of the investment banking. The group’s revenues in March were $ 12.557 billion, slightly under the consensus of 12.99 billion. Business Global Wealth Management, Investment Banking and Asset Management they all recorded progress in terms of operational profit; The Personal & Corporate Banking branch, sensitive to the drop in margins on interest, has instead recorded a decrease. The incorporation of Credit Suisse continues according to the plans, said the Swiss institute on the occasion of the accounts, with further savings made of 900 million dollars, which bring the total reductions in costs to 8.4 billion, that is, 65% of the expected total of 13 billion. UBS also started the Buyback plan: actions have been regained for a value of 500 million and 2.5 billion were set aside for the registry scheduled for the rest of 2025.
