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On 29 September Italy’s Intesa Sanpaolo (ISP) bank, which is in the process of integrating UBI Banca following its successful hostile takeover that was finalized in August, signed an agreement that will enable it to both effectively manage the social consequences of the merger and promote generational renewal. This agreement, like that which UniCredit concluded in April by (c.f. article No. 11813), meets the trade unions demands for a minimum of one new hire for every two departures. This newly combined ISP UBI banking group now has about 110,000 employees.
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