Italy

Italy’s UniCredit to axe 8,000 jobs

cde.news desk 4 December 2019, 06:24 · 1 min read

epa06110298 (FILE) - A file picture dated 23 March 2016 shows the logo of a branch of the UniCredit Group Bank in Siena, Italy. Reports on 26 July 2017 state Unicredit has made a statement acknowledging alleged hackers may have gained access to Unicredit's client information, but no passwords have been stolen. The bank said some 400,000 clients have been affected in attacks that for the first time took place in September and October 2016. Similar repeated attacks took place in June and July 2017. The bank said they did not know who and why carried out the attacks. EPA/MATTIA SEDDA

Italian bank UniCredit said Tuesday that it set to axe around 8,000 jobs and close around 500 branches in the next few years.

The job losses will be concentrated in Italy, Germany and Austria.

“Cost savings will in part be achieved through further FTE reductions of around 8,000 over the plan period while the ongoing optimisation of the branch network will see additional closures of about 500 at a Group level between 2019 and 2023,” the Italian bank said in a statement on its new industrial plan.

Union sources said that 5,500-6,000 of the job losses and 450 of the branch closures will be in Italy.

Via ANSA

Filed under Banking Business Italy

Topics Banking Italy unicredit

Italy’s UniCredit to axe 8,000 jobs

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