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
Novacyt S.A. said it is seeing unprecedented demand for the novel coronavirus or COVID-19 diagnostic test kit developed by Primerdesign, the company's molecular diagnostics division based in the UK. As of March 27, Primerdesign has sold and received orders for more than 17.8 million pounds of its CE-Mark COVID-19 tests. Novacyt is currently selling its COVID-19 test to more than 80 countries. The U.S. Food and Drug Administration has issued an Emergency Use Authorization to allow anti-malaria drugs hydroxychloroquine sulfate and chloroquine phosphate donated to the Strategic National Stockpile as possible treatments for coronavirus (COVID-19) patients. This is the first EUA for a drug related to the COVID-19 response. Gilead Sciences Inc. said it is transitioning to "expanded access programs" from "compassionate use" programs for its experimental anti-coronavirus drug, remdesivir. The company noted that the expanded access will allow hospitals or physicians to apply for emergency use of remdesivir for multiple severely ill patients at one time, as they struggle to deal with the COVID-19 or coronavirus pandemic.
Follow RTT
>