Italian storbank firing every 11. employees in order to increase the yield

A new strategy for UniCredit costing 8000 employees with the job and increases yield to investors. The Italian storbank UniCredit to be in time with a larger

Italian storbank firing every 11. employees in order to increase the yield

A new strategy for UniCredit costing 8000 employees with the job and increases yield to investors.

The Italian storbank UniCredit to be in time with a larger sparerunde, and it costs 8000 employees with the job and the 500 branches of life, writes erhvervsmediet Bloomberg.

the Purpose of sparerunden is among other things to screw up for the dividends to bank investors. It must be done by increasing the part of the bank's profits each year are paid out as return to the shareholders of the bank.

in Addition, the bank will use some of his earned billions to buy the shareholders ' shares, if they want to sell. Thus to create bank its own demand on the stock. It can increase the returns, if investors want to sell.

According to Bloomberg, will only aktiekøbene linger the equivalent of 15 billion dollars out to their shareholders.

UniCredit has a total of 85,000 employees - it is out of Italy and in particular Germany, Austria and Central and Eastern europe.

Ceo Jean-Pierre Mustier justify according to Bloomberg, the need for the new strategy of weaker growth in the economies in which the bank is a part of, as well as negative interest rates.

In Western europe alone to redundancies and fewer branches bring in 7.5 billion dollars in avoided costs.

/ritzau/

Updated Date: 03 December 2019, 13:00

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