Germany -Job cuts at Commerzbank -June 20, 2013

Commerzbank has announced 5,200 jobs cuts, about 12% of its 45,000 full-time staff. Earlier on trade union ver.di said it estimated around 3,000 jobs cuts. At the end of 2012 and at the beginning of 2013, Commerzbank already decided on a reduction of 800 fulltime equivalents, primarily in the Non-Core Assets segment. A further reduction of 500 fulltime equivalents is planned abroad and in the German subsidiaries. The remaining job cuts of 3,900 fulltime equivalents have been approved by the Works Council of Commerzbank AG. Of these cuts around 1,800 full-time equivalents will be affected in the Private Clients Segment.

English: http://www.reuters.com/article/2013/06/19/us-commerzbank-jobs ...   

http://hereisthecity.com/2013/06/19/commerzbank-reaches-agreement-on-5200-job-cuts/

 

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.


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