June 30, 2020 / 8:14 AM / 8 days ago

Cerberus wants well more than 7,000 job cuts at Commerzbank - source

FRANKFURT, June 30 (Reuters) - Cerberus wants Commerzbank to cut far more than 7,000 jobs as part of the bank’s efforts to trim costs, a person familiar with the matter said on Tuesday.

Cerberus, one of the bank’s largest investors, has been pressing for big changes at the bank. (Reporting by Tom Sims and Hans Seidensteucker; Editing by Sabine Wollrab and Maria Sheahan)

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