Italy’s largest bank by assets is planning to cut 14,000 jobs over the next three years and raise €13B to strengthen its balance sheet. The latest reshaping of UniCredit (OTCPK:UNCFF) will be closely watched for what it says about the willingness of investors to help troubled banks in Italy, where lenders are saddled with an estimated €360B in sour loans.
Italy’s largest bank UniCredit is planning to cut 14,000 jobs over the next 3 years
