© Reuters. FILE PHOTO: A UniCredit emblem is seen in downtown Rome, Might 10, 2016. REUTERS/Tony Gentile/File Photograph
MILAN (Reuters) – UniCredit’s German arm is ready to take a good portion of the round 3,000 voluntary redundancies anticipated beneath the Italian financial institution’s new marketing strategy, an individual near the matter mentioned.
Bloomberg Information reported earlier on Friday half of the anticipated job cuts would hit the group’s German operations.
UniCredit will unveil a brand new marketing strategy on Dec. 9.
Sources acquainted with matter mentioned on Wednesday Italy’s second greatest financial institution is contemplating reducing round 3.4% of its workforce by way of voluntary departures beneath the brand new strategic plan.
Germany accounted for 16% of Unicredit (MI:)’s whole staff as of September 30.
UniCredit has authorised 22,000 job cuts since 2016 beneath two earlier plans with Italy, which account for 44% of the workforce, taking the majority of the layoffs given its relative weight inside the group.
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