January 22, 2019 / 11:38 AM / 6 months ago

Verdi union speaks out against any Deutsche Bank, Commerzbank merger

FILE PHOTO - Banners of Deutsche Bank and Commerzbank are pictured in front of a trader at the stock exchange in Frankfurt, Germany, September 30, 2016. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - Germany’s Verdi labor union on Tuesday voiced concern over any possible merger between Germany’s largest banks – Deutsche Bank (DBKGn.DE) and Commerzbank (CBKG.DE).

Jan Duscheck, head of Verdi’s banking division, said that any possible merger would lead to big job cuts.

Speaking to journalists, Duscheck also said that the union did not see any added value from a possible merger between the two banks.

Reporting by Tom Sims; editing by Thomas Seythal

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