Monte dei Paschi inclined to accept all early exit demands – unions

ROME (Reuters) – Italy’s state-owned bank Monte dei Paschi di Siena is inclined to agree to all early exit demands from staff, unions said on Monday after a meeting with CEO Luigi Lovaglio.

Lovaglio expressed a “positive orientation” as regards to unions’ demands concerning the 4,125 staff who have asked to leave.

However, this depends on the completion of the new share issue, launched last week, that is meant to fund the exits, the CEO was said to have told unions.

In August, the bank had agreed with unions a smaller exit package for 3,500 staff.

(Reporting by Alvise Armellini; Editing by Keith Weir)