Clifford Chance
Employment agenda focused on the banking sector
2 February 2012
Anti-crisis changes in the renewed National Collective Bargaining Agreement applicable to employees in the banking sector
On 19 January 2012, unions and employers' association of the banking sector renewed the National Collective Bargaining Agreement for employees (other than executives or "dirigenti") of the banking sector (hereinafter the "NCBA"). This renewed agreement entered into force on 19 January 2012, for a termending on 30 June 2014, except where different terms are specifically provided.
The NCBA contains groundbreaking changes useful to employers to strike a balance and to face the adverse market conditions: on the one side, it enhances working organisation flexibility and it limits employment costs, on the other side, it promotes employment growth.
More specifically, the parties have taken into account the debt crisis and the current international economic situation (which are significantly affecting the Italian market and, specifically, the employment rate), as well as the peculiar situation of the Italian banking sector, which is materially affected by the Italian Gross Domestic Product (GDP) trend.
This briefing summarises the main changes introduced by the NCBA, as renewed.
