UniCredit to Intensify Cuts as Inflation Expenses Exceed $1 Billion

UniCredit SpA plans to cut an additional €500 million in costs by reducing complexity, in an effort to offset higher-than-expected inflation.

The Italian lender is speeding up the automation of processes, further reducing layers of bureaucracy and middle management, reviewing outsourcing contracts and investing in digitalization and efficiency, according to people familiar with matter.

Read More : UniCredit to Intensify Cuts as Inflation Expenses Exceed $1 Billion