In less than two months, UniCredit banking group and the relevant trade unions have managed to conclude tense negotiations on 6,000 job cuts that are part of the bank’s 2023 strategic plan (c.f. article No. 11649). The agreement provides for 5,200 voluntary early retirements along with retraining for 800 employees. In addition, the trade unions have succeeded in ensuring that almost 70% of the departures will be made up by fresh hires. The agreement also introduces improvements in terms of company welfare and work-life balance.