Leonardo and Federmanager (federmanager.it), Italy’s national association of executives, in coordination with Representatives of the Group Managers, have signed an agreement relating to early retirement. This is in line with Article 4 of Italian Employment Law (92/2012), also known as the ‘Fornero Law’.
The agreement will involve up to 65 executives who will be eligible for retirement in the four years following the scheduled 2018-2019 implementation period. The plan draws on innovative processes and best-practice already tested at the Group level.
This agreement is an important step towards achieving the objectives laid out in the 2018-2022 Industrial Plan. The agreement supports the need to promote the next generation of executives and modernise the company’s skill set in order to improve efficiency, operational flexibility, and competitiveness.
Dialogue with executives and their union representatives continues, recognising their strategic role as participants in the context of a modern model of industrial relations for the Group’s management. The implementation of the agreement will be monitored via pre-planned checks in order to evaluate possible extensions.
Leonardo (leonardocompany.com) is among the top ten global players in Aerospace, Defence and Security and Italy’s main industrial company. As a single entity from January 2016, organised into seven business divisions (Helicopters; Aircraft; Aero-structures; Airborne & Space Systems; Land & Naval Defence Electronics; Defence Systems; Security & Information Systems), Leonardo operates in the most competitive international markets by leveraging its areas of technology and product leadership. Listed on the Milan Stock Exchange (LDO), at 31 December 2016 Leonardo recorded consolidated revenues of 12 billion Euros and has a significant industrial presence in Italy, the UK, the U.S. and Poland.