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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.

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