UBI Banca Group

The percentage of part-time employees was 7.9% (7.3% at the end of 2010). Female personnel
accounted for 36.8% of the total, unchanged compared to 36.7% the year before.
Further details in trends and in the composition of Group personnel are given in the 2011
Social Report, which may be consulted.
***
As concerns the fourth quarter, total personnel fell by 110, consisting mainly of employees
(down by a total of 82) partly as a result of temporary contracts coming to an end (50).
Personnel on agency leasing contracts were also affected by contracts ending, with a reduction
of 28 in the quarter.
The redundancy scheme pursuant to the agreement of 14 th
August 2007
The redundancy scheme implemented by the UBI Banca Group on the basis of the trade union
agreement of 14 th August 2007 was concluded in 2011. The last 60 employees left during the
year with access to the sector “solidarity fund” (of which seven in the 4 th quarter) – postponed
in relation to measures introduced by Decree Law No. 78/2010 converted into Law No
122/2010 – which brought the total number of redundancies to 960.
The numerous changes that have occurred in the legislation since 2010 involving the pension
system - the latest contained in the “Save Italy” decree 2 – had no significant impact on those
who had already gained access to the “solidarity fund” formed with Ministerial Decree No. DM
158/2000 on the basis of redundancy schemes implemented in the Group.
Renewal of the national labour agreement and changes to the
pension system
An agreement was signed on 19 th January 2012 to renew the national labour agreement of 8 th
December 2007 – which had expired on 31 st December 2010 – for middle management and
personnel employed in “professional areas”, which will be subject to approval by workers, the
regulatory and economic effects of which will be effective from 2012.
The agreement was concluded in an extremely complex context due to the worsening of the
macroeconomic environment and of economic and financial conditions in Italy. Consequently
the parties to the agreement made the responsible decision to take corrective action to counter
the potential competitive decline of banks and to support a recovery in profitability, the growth
of productivity and the creation of new permanent employment.
A “National fund to support employment in the credit sector” was created to achieve the latter
aim, a unique new development in trade union relations in Italy. The fund will be financed by
contributions from all employees and will be used to facilitate the appointment of young
people, disadvantaged persons or laid-off workers to permanent positions and to transform
contracts from temporary to permanent.
Again in order to encourage new employment, it was agreed that workers appointed since 1 st
February 2012 to the first level of the 3 rd Professional area on permanent contracts, including
apprenticeship contracts, should receive a lower wage for a period of four years, but that at
the same time employers will pay a contribution of 4% to supplementary pensions for the
same period of time.
2 See the following sub-section.
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