VIENNA, Dec 15 (Reuters) - UniCredit unit Bank Austria might not need to lay off any workers under a restructuring plan that it will fund from provisions for the pensions of employees who will switch to the state pension system, its chief executive said on Tuesday. Chief Executive Willibald Cernko told a news conference the 2.1 billion euros ($2.3 billion) that had been earmarked for those pensions would cover the costs of the restructuring, adding that 3,300 employees would switch to the state system. $1 = 0.9075 euros Reporting by Alexandra Schwarz-Goerlich and Francois Murphy; editing by Jason Neely
UniCredit Bank AG 's Chief Executive , Willibald Cernko , has told a recent press conference that the bank may not need to make any job cuts as part of a major restructuring programme on its retail business . Instead , the bank will cover the cost of the restructure with $ 2.1bn ( $ USD ) that had been earmarked for the pensions of active employees who will migrate to the state pension system going forward .