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UniCredit: To cut 8,000 jobs by 2023

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UniCredit: To cut 8,000 jobs by 2023 to reward shareholders

  • UniCredit, Italy’s largest bank by assets
  • The cuts as part of reach a 2023 revenue target of €19.3 billion ($21.4 billion)
  • UniCredit will aim to release half of its underlying net profit to shareholders in 2023
  • Earnings per share predicted to go up 12% per year
  • The bank is looking to close 500 of its branches
  • It become a “paperless retail bank” by next year in Italy, and by 2021 in Germany and also Austria

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