Investing.com - Financial Markets Worldwide

Commerzbank plans job cuts and financial targets overhaul to deter UniCredit- Reuters

Published 12/02/2025, 09:20
© Reuters.
CBKG
0.83%
CRDI
-0.18%

Investing.com -- Commerzbank (ETR:CBKG), based in Germany, is planning to implement staff reductions and revamp its financial targets in an attempt to ward off merger overtures from Italy’s UniCredit, according to Reuters.

The bank’s strategic moves are seen as gradual rather than drastic. Some of these insiders also acknowledged that preventing a takeover by UniCredit, which has caused a 50% surge in Commerzbank’s stock price since it first expressed interest, might be difficult.

The planned job cuts will affect several thousand employees, according to two sources. Another source indicated that the number would range from 3,000 to 4,000 personnel from a total workforce of approximately 42,000 employees.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.