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Clifford Chance

Clifford Chance


Renewal of CBA for executives of industrial companies: what are the changes?

29 August 2019

On 30 July 2019, Confindustria and Federmanager signed the renewal of the national Collective Bargaining Agreement ("CBA") for executives of companies producing goods and services. The agreement, which will expire on 31 December 2023 and came into effect on 1 January 2019 except for specific effective dates referenced in the individual articles, lays down the new guaranteed minimum aggregate remuneration to be used as a parameter in 2020, 2022 and 2023. s regards the variable remuneration, the agreement introduces a further MBO model under which 50% of the incentive is paid on the basis of the annual results whilst the remaining 50% is paid upon the attainment of the results in the medium to long term. Further changes relate, amongst other things, to payment for untaken holidays, job retention after illness, maternity and paternity protection, equal opportunity, transfer of the executive and the increase to the supplementary indemnity for unfair dismissal for executives whose period of service does not exceed two years.

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