Ferrari and Trade Unions Renew Labor Agreement for Italian Employees

Publication date: 
11 Mar 2019

Maranello (Italy), 11 March 2019 – Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) today renewed the company-specific collective labor agreement (CCSL), which expired 31 December 2018, with the trade unions FIM-CISL, UILM-UIL, FISMIC, UGLM and AQCFR. The agreement, which is valid for the four-year period 2019-2022, applies to all the employees of the Ferrari Group in Italy. The agreement provides an increase in contractual compensation, an enhancement to the company’s benefits system and the completion of the system of representation.