Unicredit is planning, as part of the strategic plan that will be presented on December 9, about 3,000 new staff cuts for a simplification process that will mainly concern the central management. The indiscretion appeared in a note from the Bloomberg financial agency. The final numbers are still under review, sources point out to the American agency. Part of Unicredit’s staff cuts, according to Bloomberg, would be expected among Italian employees. The group has a total of approximately 87,000 employees. The outputs – according to what we learn – will be on a voluntary basis through early retirement and new hires may also be planned.
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Unicredit goes up on the stock exchange in view of the new industrial plan
Unicredit is scheduled to announce the new three-year plan, scheduled for next December 9th. It will also be an opportunity to clarify the intentions regarding rumors about possible staff reductions. In the meantime, the stock on Wednesday on the stock market experienced a particularly busy day, gaining around 4%. Some opinions expressed by analysts also influenced. Deutsche Bank added the title among the top picks. For Equita buy with a target price of € 13.60. Mediobanca indicates this outperform with a target price of € 16.50. Unicredit shares are among the few still well below pre-Covid levels but we are optimistic about the repositioning of the new plan, analysts underline who highlight how the large early buyback combined with a 50% payout would bring the bank back to the Olympus of gods of capital return.
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