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
3M Co. is teaming with researchers at Massachusetts Institute of Technology or MIT to develop a new rapid antigen test that detects the COVID-19 virus. The research, being conducted at the pilot lab facility at 3M's headquarters in St. Paul, Minnesota, is to learn if a simple-to-use, diagnostic device can produce highly accurate results within minutes and is feasible to mass manufacture. Retail giant Walmart has teamed up with the U.S. Department of Agriculture (USDA) to enable customers who pay for groceries with SNAP benefits, to gain access to Walmart's pickup and delivery service. Nearly 3,000 Walmart stores in 39 U.S. states are now offering customers receiving SNAP benefits through their Electronic Benefit Transfer (EBT) card to complete payments using the EBT card. Apple Inc. said it is allocating more than $400 million for affordable housing projects in California this year. The latest funding is part of its earlier announced $2.5 billion multi year commitment to meet housing crisis in the most populous state in the United States. The money will be used towards affordable housing projects and homeowner assistance programs in the company's home state.
Follow RTT