Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

UniCredit considers cutting around 10,000 jobs under new plan - sources

UniCredit considers cutting around 10,000 jobs under new plan - sources
FILE PHOTO: Unicredit bank logo is seen on a banner downtown Milan, Italy, May 23, 2016. REUTERS/Stefano Rellandini -
Copyright
Stefano Rellandini(Reuters)
Euronews logo
Text size Aa Aa

MILAN (Reuters) – Italy’s biggest bank by assets UniCredit <CRDI.MI> is considering cutting around 10,000 jobs, or 10 percent of its global workforce, as part of a new business plan to be unveiled in December, two sources close to the matter said on Monday.

One of the sources said the bank would announce at least 9,000 redundancies and the job cuts would occur almost entirely in Italy.

Negotiations with unions, which are set to begin after the 2020-2023 business plan is announced on Dec. 3, could lead to a smaller number of redundancies.

UniCredit declined to comment. News of the planned job cuts was first reported by Bloomberg.

(Reporting by Gianluca Semeraro, editing by Silvia Aloisi)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.