MILAN (Reuters) -Italian banking sector trade unions said on Thursday they had reached an agreement with the Milan stock exchange, part of Euronext, to keep employment levels unchanged over the next three years and pay staff a one-off bonus of 2,000 euros ($2,170).
The agreement, which still needs to be ratified by workers, paves the way for ending a dispute which prompted Italian trade unions to call their first strike at the Milan bourse in June.
“With the agreement, the Milan Stock Exchange pledges to safeguard employment levels for the next three years,” unions Fabi, First Cisl and Fisac-Cgil said in a statement.
Euronext, which also runs stock markets in Amsterdam, Brussels, Dublin, Lisbon, Oslo and Paris, completed its acquisition of the Italian stock exchange, or Borsa Italiana, in April 2021.
“The group aims to at least maintain its occupational level in Italy, focusing on organic growth”, Euronext said in a statement confirming the agreement with unions.
Euronext, which will present its strategic plan to 2027 next week, added it remained committed to continue investing in the entire capital markets value chain in Italy, notably in listing, trading, clearing and settlement services”.
In calling the historic strike in June, unions accused Euronext of “constant, systematic and overall disinvestment from Italy”.
That prompted a reaction from Italy’s industry minister, Adolfo Urso, who said the government would start monitoring commitments made by Euronext when it acquired the Milan bourse.
“We addressed all the issues that fell within our remit. In relation to governance issues and strategy we trust the Italian authorities can do their part,” the unions said.
($1 = 0.9208 euros)
(Reporting by Elvira PollinaEditing by Keith Weir and Sandra Maler)
