Commerzbank

    • Commerzbank paves the way for 10,000 job cuts

      Commerzbank paves the way for 10,000 job cuts

      Germany’s Commerzbank announced it had reached an agreement with representatives of employees over planned job cuts aimed to reduce operating costs, Reuters reported. The Verdi labour union confirmed the information and elaborated that the issue concerned some 10,000 worldwide. The agreement is central to Chief Executive Officer Manfred Knof's plans to restructure and spur the nation's second-biggest listed lender and return it to profitability.

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    • Commerzbank to cut 10,000 jobs by 2024

      Commerzbank to cut 10,000 jobs by 2024

      German Commerzbank announced massive restructuring plan for the period through 2024, aimed to cut annual costs, increase digitalization, slash branches and boost reserves. Commerzbank’s new CEO, Manfred Knof, wants to cut 10,000 jobs and close hundreds of branches as part of a strategy revamp announced just weeks after he took on the job at Germany’s second biggest bank, Reuters reported.

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