Commerzbank to cut around 3,000 jobs by 2016: trade union

FRANKFURT Wed Jun 19, 2013 7:26am EDT

The logo of Germany's Commerzbank is pictured at the bank's headquarters in Frankfurt May 10, 2013. REUTERS/Lisi Niesner

The logo of Germany's Commerzbank is pictured at the bank's headquarters in Frankfurt May 10, 2013.

Credit: Reuters/Lisi Niesner

FRANKFURT (Reuters) - Germany's trade union Verdi on Wednesday said it estimated that around 3,000 jobs will be cut at Commerzbank (CBKG.DE) by 2016 under a negotiated severance deal.

The trade union was negotiating job cuts in Germany. The 3,000 cuts do not include staff reductions at Hypothekenbank Frankfurt, a unit formerly known as Eurohypo.

(Reporting By Edward Taylor)

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