Commerzbank to shed more than 5,000 jobs -source

FRANKFURT, June 18 Tue Jun 18, 2013 2:06am EDT

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FRANKFURT, June 18 (Reuters) - German lender Commerzbank will shed more than 5,000 jobs as part of its cost cutting programme, a person familiar with the negotiations told Reuters on Tuesday.

Commerzbank management has reached a preliminary agreement with labour unions regarding the implementation of the cuts, two sources said.

Commerzbank declined to comment. (Reporting by Alexander Huebner; Editing by Alexander Ratz)

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