logo
Plus   Neg
Share
Email

Commerzbank Plans To Cut Up To 2,500 Jobs : Report

German lender Commerzbank AG (CRZBY.PK) is planning to cut further 1,800 to 2,500 job, Boersen-Zeitung reported citing company sources.

Final decisions on the Job cuts could be taken at strategy meetings between the management and supervisory boards at the end of September, the report said.

The report also said the Job cuts would likely focus on the bank's Frankfurt headquarters - in the back office, investment banking, ship finance, compliance and personnel.

Earlier in this week, there were a report that Commerzbank was considering closing around 100 to 200 branches. The bank was likely to reduce the number of branch offices to around 800-900 from the current 1000 retail branches.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Lowe's Companies Inc. (LOW) and Office Depot Inc. (ODP) reported profit for their fourth-quarter, while TJX Companies' (TJX) profit increased 17 percent from the prior year. TJX plans to increase dividend by 13 percent and to buy back up to $2.25 billion of stock. Starbucks is introducing plant-based meat to its menu in Canada in early March. The Seattle-based coffee chain said it will introduce a new Beyond Meat, Cheddar and Egg Sandwich to its Canadian stores on March 3, along with the launch of its new spring menu. The meatless breakfast sandwich will be part of Starbucks Canada's core menu. Auto major Ford Motor Co. issued a safety compliance recall for a total of 217,185 F-150 pickup trucks with LED headlamps in North America, including 50,989 in Canada, to fix issues with the headlamps that could increase risk of a crash. The F-150 has been the top selling U.S. vehicle by any manufacturer for more than 40 years.
Follow RTT
>