UniCredit to Reward Investors While Cutting 8,000 Jobs

Dec.03 — UniCredit SpA Chief Executive Officer Jean Pierre Mustier will reward investors with 2 billion euros ($2.2 billion) of share buybacks in a new four-year strategic plan that will see about 8,000 job cuts as the bank grapples with slow economic growth and negative rates. Bloomberg Opinion columnist Elisa Martinuzzi has the details on “Bloomberg Markets: European Open.” The views expressed are her own.