Germany's Commerzbank to cut 6,000 jobs by 2016
(01-24 16:39)
Commerzbank, Germany's second-biggest bank, said on Thursday it is looking to axe 4,000-6,000 jobs -- or about 10 percent of its workforce -- by 2016.
"As part of our strategic agenda announced in November, Commerzbank is planning cost savings. Overall, the bank is assuming that 4,000-6,000 jobs will be cut group-wide by 2016. The exact number will be determined in negotiations with employee representatives that are likely to start in February,'' a bank spokeswoman told AFP.
On September 30, 2012, Commerzbank's total workforce numbered 56,287.
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