Italian bank UniCredit to cut 8000 jobs

Italy’s biggest bank, UniCredit, has announced its plans to cut 8.000 jobs and obtain regulatory approval for a €2 billion share buyback programme under its 2020-23 strategic plan. The bank’s chief executive officer, Jean Pierre Mustier, said the job cuts would be done in a “socially responsible way”. He is seeking to drive investor returns through cost cuts and greater efficiency. The...