Mps brand at risk, ditto the Sienese bank’s workforce. Monte di Stato, which denied the rumors about a 3 billion euro capital increase, remains a special observation of the markets, while UniCredit by Andrea Orcel accelerates on the bank’s due diligence, to understand how much and what to buy, as he pointed out the article in La Repubblica a few days ago: “There will be less Siena in the future of Mps”.
“From Unicredit as well as from the advisors (Credit Suisse and Mediobanca for Mps, Bofa for the Treasury) the greatest pragmatism on staff cuts, estimated at 6,000 units, and on the survival of the oldest banking brand in the world filters out”, reads in article in the newspaper, signed by Andrea Greco and Maurizio Bologni.
“For the government, on the other hand, these are important aspects, and must be declined in the new role to be given to Siena, to the Foundation of banking origin and to the general management of the bank which in Rocca Salimbeni has 1,800 employees (but there are over 5 thousand Mps employees who they refer to them between Florence, Milan, Padua, Mantua, Lecce and Sicily). A recalcitrant territory that fears the uprooting of MPS from Siena, where, among other things, the delicate challenge between center-left and center-right is played on 3 October, with the secretary of the Pd Enrico Letta running for the supplementary college for the Chamber “.
The Tyrrhenian Sea also faces the issue of the risk of staff cuts and the thinning of branches, with at least 150 branches at risk.
The merger with UniCredit would create a problem of excessive presence. Basically, “problems in 40 provinces”.
Thus on 9 August the Corriere di Siena had written, addressing the knot of redundancies:
“Two hundred and ninety thousand customers between families and businesses, about one hundred branches between Siena and the province that have a total of at least three thousand employees. The staff who work in the general management (in the city of the Palio 1400 people, which reach up to four thousand considering the decentralized offices). the numbers of Monte dei Paschi on the territory in which the bank was born and from which it started. Those, but obviously not the only ones, on which the community and the trade union world focuses. details on the operation proposed by Unicredit for the acquisition of a healthy part of the Sienese bank, the concern therefore remains high on the management front of the approximately 5 thousand / 7 thousand redundancies estimated by the plan of the Milanese institute. Two thousand and five hundred, according to what is reported in Parliament by the Minister of Economy Daniele Franco, who had instead complied with the voluntary redundancies envisaged in the 2021-2025 industrial plan presented in recent months by Banca M ps “.