Thousands of job cuts at Commerzbank

Thousands of job cuts at Commerzbank View Gallery
Commerzbank is set to swing the axe

German bank Commerzbank is planning to shed close to 10,000 staff by 2020. However, it also intends to create about 2,300 new jobs in growing areas of its business.

“The focus on the core business, with some business activities being discontinued, and the digitalisation and automation of workflows will lead to staff reductions amounting to around 9,600 full-time positions.”

Commerzbank statement

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