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Union expects data on Commerzbank job cut plans next week
January 18, 2013 / 1:06 PM / in 5 years

Union expects data on Commerzbank job cut plans next week

FRANKFURT, Jan 18 (Reuters) - German trade union Verdi said it expects to receive more details on Commerzbank’s cutback plans next Wednesday at the earliest, following media reports that about 6000 jobs could go.

The bank’s works council will examine the issue at a meeting scheduled for Wednesday and Thursday next week, a Verdi spokesman said.

Daily “Frankfurter Allgemeine Zeitung” had earlier cited sources as saying 4000 to 6500 jobs are at risk based on preliminary plans at Germany’s second-largest lender while the Wall Street Journal said about 6000 jobs could be cut.

Commerzbank in November signalled a planned investment drive worth more than 2 billion euros ($2.67 billion) would alleviate the need for staff reductions, following a media report at the time that up to 6000 jobs were at risk at the bank.

$1 = 0.7486 euros Reporting by Philipp Halstrick; Writing by Ludwig Burger

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