Leonardo agrees innovative plan for early retirement with Italian trade unions

Leonardo and Italy's national trade unions have signed an agreement relating to early retirement, in line with Article 4 of Italian Employment Law (92/2012), also known as the ‘Fornero Law'.

Rome 13 March 2018

The agreement will help strengthen the Company’s skills base, leading to increased competitiveness and profitability
1,100 employees who meet the criteria for early retirement will be involved on a voluntary basis
Profumo: "The agreement is a significant and strategic step towards meeting the resourcing objectives in our 2018-2022 Industrial Plan"

Leonardo and Italy’s national trade unions have signed an agreement relating to early retirement, in line with Article 4 of Italian Employment Law (92/2012), also known as the ‘Fornero Law’. The agreement will involve 1,100 employees who will be eligible for retirement in the four years following the scheduled 2018-2019 implementation period. A similar scheme will extend the process to managers.

The signing of the agreement signals the start of Leonardo’s new programme of activity to strengthen its skills base across the Company, as envisaged in the 2018-2022 Industrial Plan. This will in turn improve the competitiveness and profitability of the Company and its divisions.

The overall objectives of the Company’s workforce planning activities are to preserve manufacturing capacity and continuity at individual sites, ensure that key expertise is maintained and to acquire and develop new skill sets. At the same time as creating efficiencies via early retirement, Leonardo plans to initiate a new hiring campaign. Hiring will take into account the Company’s financial resources and will be in-line with the objectives and needs of the business.

“This strategic agreement will support the technological transformation and sustainable development of the Company”, said Alessandro Profumo, Leonardo’s Managing Director. “The agreement is an important step towards the full implementation of our 2018-2022 Industrial Plan, maintaining critical skills and acquiring the new ones we need to meet the evolving requirements of the market”.

Further negotiating steps will be carried out within Leonardo’s divisions and subsidiaries to define how the agreement will be implemented at an operational level, taking into account business needs and the required eligibility of the workforce. Implementation will take place over the 2018-2019 period, ensuring the correct transfer of knowledge and skills in the period between the signing of the agreement and the end of the process.