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
Google announced a batch of renewable energy deals totaling 1.6 GW through 18 acquisitions spread across three continents. The deals are intended to "spur the construction of more than $2 billion in new energy infrastructure," the company said. Google said the deals will increase its worldwide portfolio... Beyond Meat's main competitor Impossible Foods will launch its grocery store in California on Friday. Beyond Meat Inc. (BYND), the meatless burger and sausage maker, announced the appointment of Sanjay Shah as Chief Operating Officer. Shah will assume the responsibility for Beyond Meat's global operations and production, effective September 18.
Follow RTT
>