On July 25th the UEWC Select Committee had a meeting in order to make a shared evaluation of the 3YP Group’s contents.
The Select Committee members confirmed the satisfaction, also expressed just after the meeting with the Group’s CEO on June 25th, for the Group’s solidity and for the investments to be realized in the Retail sector and in the East Europe Countries; nevertheless, at the same time, the Select Committee declared to be deeply concerned about the workforce cut provided by the Plan for the Western European Countries.
Splitting the 9.000 forecasted redundancies, 5.900 will be placed in Italy (due to Capitalia merger), 2.500 in Germany and 600 in Austria: these are very significant figures, corresponding to 10% of the a.m. Countries’ workforce.
The Select Committee is convinced that a more equal distribution of sacrifices between employees, shareholders and Top Management is necessary; the reorganization must be regulated by agreements between Management and Workers Representatives excluding collective firing.
Moreover the exasperated attention to costs’ cutting causes, despite of the workforce reduction, a clear and generalized worsening of work conditions, asking for more and more overtime work, continuous changing of professional role, workers’ geographical mobility from a town to another one and so on.
The UEWC is aware of the financial market’s difficulties; nevertheless the Group’s growth must be realized in a sustainable way, both for employees and customers.
The Select Committee arranged an information and consultation meeting with the Central Management for the end of September.
The UEWC ordinary meeting concerning the 3YP will take place in Milan on October 15th/17th. During this meeting the UEWC will check the work carried on by the Joint Commissions’ about Equal Opportunities and Training, which is to start just in these days.


Milan, July 25th
The UniCredit Group Select Committee