Italian Banks Face National Strike Amid Cuts

News: Banks in Italy are facing a national strike as they cut branches and slash jobs over the next couple of years, according to Reuters. Unions in the country are planning to urge Italy's first national bank strike in some 13 years as lenders including Banca Monte dei Paschi di Siena, IntesaSanpaolo and UBI Banca cut or merge 3,000 branches and shed 19,000 jobs. The cuts represent a 6% decline in industry-wide headcount and a 10% drop in branch numbers.

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Geography: Italy

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