AI and digitalisation to eliminate 9,000 jobs at Italy’s leading bank

Milan: Italy’s leading bank, Intesa Sanpaolo, has reached a deal with trade unions for 9,000 voluntary job cuts — around 10 percent of its workforce — due to the expansion of artificial intelligence (AI) and digitalisation.

At the same time, the bank plans to hire by mid-2028 some 3,500 young new employees to work in wealth management, it said in a statement late on Wednesday.