Italian bank Unicredit quits France

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Italian banking giant Unicredit is to shut down its three branches in France, threatening around 100 jobs.

PARIS -  The CFDT trade union said on Monday it is prepared to stage a protest in Paris against the move.

The bank's press office in Italy declined to comment on the claim.

The trade union said the departure "lacks any economic foundation."

Unicredit, Italy's biggest bank, has launched a cost-cutting drive and has axed 8,098 jobs so far this year -- mostly in Central and Eastern Europe.

The company is planning 3,800 more job reductions in 2010.


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