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News Brief: Unicredit plans to eliminate up to 400 IT positions in Germany, primarily based in Munich, as part of a restructuring effort aimed at cost savings and operational integration.

The Milan-based bank Unicredit is set to reduce its IT workforce in Germany by up to 400 positions, as reported by ‘Manager Magazin’. The affected roles, largely located in Munich, will be partially relocated to Romania. These positions are part of a distinct IT services unit serving the Unicredit Group across various German sites, and do not involve jobs at HypoVereinsbank (HVB), a spokesperson clarified. The initiative aims to achieve cost reductions and foster a more unified operational presence. Unicredit has a significant footprint in Germany, employing over 8,000 individuals, predominantly at HVB. CEO Andrea Orcel has been leading the bank’s strategic direction in the region.

Original Source: www.handelsblatt.com