HypoVereinsbank, the German subsidiary of italian banking giant UniCredit, said on Wednesday it plans to axe 1,500 jobs in a shake-up of its high-street branch network.
"The number of full-time positions will be reduced by around 1,500 across the country," HypoVereinsbank said in a statement.
"Of these, nearly 1,300 will be axed in private customer business and around 200 in the headquarters," the statement said.
The bank said that it would merge or close 240 of its 580 branches nationwide by the end of 2015.