ISP Intesa Sanpaolo Spa

   By Pietro Lombardi 
 

Intesa Sanpaolo SpA (ISP.MI) said Thursday it has reached an agreement with unions for up to 1,600 voluntary layoffs.

The voluntary exits will happen by June 2021, the Italian bank said.

Under the agreement, which was reached Wednesday, Intesa Sanpaolo will hire up to 150 new employees starting from the second half of 2021.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

May 30, 2019 12:54 ET (16:54 GMT)

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