MILAN (AP) — Italian bank UniCredit announced Wednesday it will shed 18,200 jobs by 2018 as its third-quarter profits slid 30 percent mainly due to charges on businesses in Croatia and Ukraine.UniCredit, Italy’s largest bank by assets, said in a statement Wednesday that net profit for the three months ending Sept. 30 was 507 million euros ($544 million), down from 722 million euros in the same period last year.It said the drop in earnings was due to 400 million euros of non-recurring charges, including an impairment charge for its Ukrainian subsidiary Ukrotsbank, which UniCredit is negotiating to sell, and loss …read more
Source: Business Insider
