Italian bank UniCredit has confirmed its plans to cut around 6,000 jobs and close 450 branches in Italy. The layoffs and branch closures are expected to take place through 2023 as part of the firm's three year-efficiency plan in motion. The move follows the announcement of the Italian lender in December, which envisaged to axe about 8,000 positions and close 500 branches to shrink overall workforce by 9%. The announcement angered Italian unions. The Italian bank has also announced its negotiation talks with unions have already began with the aim to reach an agreement over the la...
To continue reading this article...
Join International Investment
Signup and gain exclusive members-only insights
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes
