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Jobs to be Cut at Bank Austria
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After the announcement of high write-offs yesterday, the Austrian subsidiary of UniCredit will reduce its staff from 10,800 to 10,000 by 2015.

Yesterday UniCredit as well as Bank Austria published their results for the first nine months. Especially the third quarter caused serious write-offs. For Bank Austria, asset depreciated by € 650m, which was mainly due to write-offs of Greek bonds and operations in Ukraine and Kazakhstan. The third quarter brought losses of € 635m. The full year 2011, however should be…
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