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Italy’s largest bank promises cost cuts, efficiency gains and a bumper share buyback programme

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UniCredit is set to cut 8,000 jobs in a wide-ranging overhaul of its business during which Italy’s largest bank will also undertake a €2bn share buy-back — its first in 10 years.

The bank unveiled a four-year strategic plan from Jean-Pierre Mustier, chief executive, on December 3, which aims to shore up its balance sheet and bolster revenues.

UniCredit to cut 8,000 jobs as part of four-year overhaul

UniCredit to cut 8,000 jobs as part of three-year overhaul

Italy’s largest bank promises cost cuts, efficiency gains and a bumper share buy-back programme

Paul Clarke

UniCredit

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