UniCredit 'mulls 10,000 lay-offs' in new plan

'It wd lead to a punch-up' says union boss

(ANSA) - Milan, July 22 - Italy's biggest bank UniCredit is considering making 10,000 staff redundant in a new strategic plan that will be presented in December, Bloomberg News reported Monday, citing persons close to the situation.
    It is also planning a 10% cut in operational costs, the agency said.
    The cuts are still being reviewed and may be much lower, it said.
    A UniCredit spokesman declined to comment.
    Banking trade union FABI General Secretary Lando Sileoni told ANSA "a message to Jean-Pierre Mustier, UniCredit CEO: if these rumours were confirmed this time we'll have a punch-up and if we need to we'll use other means"


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